VIHFA Says It Has Strengthened Controls, Will Provide HUD Additional Documentation

The V.I. Housing Finance Authority said Tuesday that it has already taken significant corrective steps to strengthen internal controls and federal compliance and will provide HUD with additional documentation as it responds to the reported suspension of certain federal funds administered by the agency. The response came less than 24 hours after HUD suspended VIHFA from future participation in federal procurement and nonprocurement transactions pending an investigation, citing alleged false certifications, weak fraud controls, delayed recovery spending and former Chief Operating Officer Darin Richardson’s contracting scheme. Since then, Delegate to Congress Stacey Plaskett has called for the recovery program to be moved out of VIHFA, Senator Marvin Blyden has demanded a project-by-project accounting within five business days, and Senators Marise James and Clifford Joseph have requested a Committee of the Whole hearing. VIHFA acknowledged receiving correspondence from the U.S. Departme...