The news last week came as a shock — and an incredible disappointment — to many.
We reported early last week that a former Powell Valley Healthcare chief executive officer allegedly embezzled nearly $850,000 in the span of about six months.
To make matters worse, the embezzlement amounts to a $847,934 loss for Powell Valley Healthcare — not to HealthTech Management Services, the company that employed Paul Cardwell as CEO. HealthTech is suing only for its damages, not for Powell Valley Healthcare’s loss.
Powell Valley Healthcare recently voted to intervene in the lawsuit against Cardwell.
If allegations are true, then it appears Cardwell — now believed to be in Thailand — might have taken advantage of a fledgling board and new chief financial officer.