Chicago Executive Accused of Swindling UI Hospitals Out of $1.6 Million

CHICAGO, Illinois; IOWA CITY Iowa - A Chicago business executive is accused of swindling the University of Iowa Hospitals and Clinics out of more than $1.6 million.

A federal lawsuit says Dennis Haggerty never delivered personal protective equipment the hospital urgently needed in March during the initial COVID-19 outbreak.

Haggerty's accused of using the money to buy two Maserati cars and a Land Rover, as well as other items.

The lawsuit claims he never returned a large portion of money the hospital paid him to supply N95 masks.

Court documents says he moved money in between bank account to elude his business partners and business managers at the University of Iowa.

The university originally sent the company nearly $2.5 million for the personal protective equipment

Haggerty was arrested Tuesday and scheduled to appear in court. If convicted, he could face up to 20 years in prison.

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