Auditors blast $200 million TNInvestco program

photo Matt Kisber and Phil Bredesen are seen in this file photo.

Arkansas-Tennessee Live Blog

Most Tennesseans would be overjoyed to stumble upon $10,000.

But when two checks for $5,000 each are found littered among a stack of yellowing papers on the desk of the former internal audit director for a major state agency, it's cause for concern.

"That's not something we normally find," said Deborah Loveless, assistant director of state audits.

The misplaced checks were just one among of a host of financial and regulatory red flags discovered during a recent Tennessee Comptroller of the Treasury audit at the state Department of Economic and Community Development.