Michael Loy. Image courtesy: WAOW TV
WAUSAU, WI (WSAU-WAOW) — A report claims former North Central Health Care CEO Michael Loy was behind a loan program implemented without approval during his time with the group.
A report obtained by WAOW TV on Wednesday shows investigators turned up nearly $245,000 in unauthorized payments to five people, including a $60,000 loan made to Loy himself. Two others received more than $60,000 in payments.
In a statement, Loy said that he believes he had the authority to authorize the benefits for employees, other than himself. He also said he spoke with an attorney, the board chairman and the executive committee before making any decisions.
The report also shows Loy received a $500 monthly vehicle stipend that was not part of his employment agreement.
Loy said he had offered to pay back the money that he received and continued to receive the stipend even after it was discovered, leading him to believe he couldn’t undo the benefits or put them in place for himself to begin with.
However, investigators said the retention benefits policy was never approved by the Retained County Authority Committee (RCA), which ultimately oversees NCHC.
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