Former NCHC Director Creates Unauthorized Lending Program

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WAOW, Wisconsin (WAOW) – A resignation agreement between North Central Health Care (NCHC) and its former CEO outlines the terms of his resignation, including a lump sum of $ 25,000.

Former CEO Michael Loy was sent on administrative leave by the NCHC in June; On July 1, he formally resigned.

Meanwhile, the NCHC board of directors hired the law firm von Briesen & Roper to investigate Loy’s actions. They determined that Loy had created a loan program, a “benefit withholding policy,” through which loans were allowed for several members of the NCHC’s executive team. This policy, however, has not been approved by the NCHC board of directors.

You can read the report below.

LOY-REPORT

This story will be updated.

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