Wayland Baptist University fires CFO for alleged theft

Wayland Baptist University fires CFO for alleged theft

PLAINVIEW, Texas — A Texas Baptist university has fired and sued its chief financial officer over alleged financial mismanagement. Wayland Baptist University in Plainview, Texas, filed a civil lawsuit April 24 against James E. Smith in Hale County District Court, according to a statement on the school’s website. The school affiliated with the Baptist General Convention of Texas said Smith, chief financial officer since 2001, was suspended March 13 and dismissed April 11 for violations of university policy.

University officials said in a court affidavit that Smith admitted to embezzling about $40,000 over a four-year period. According to the Lubbock Avalanche-Journal, Smith told executive vice president and provost Bobby Hall that he had been using funds to pay personal debts and that he did not have money to pay it back. Hall’s affidavit said university officials began an internal investigation after a financial review of one campus building renovation and construction of Jimmy Dean Hall, a new men’s dormitory.