How One Investment Manager Gambled Away $13.1-Million of Her University’s Money

Lured by promises of quick returns, a midlevel administrator at Ball State University gambled on a series of risky investments. Unchecked and undetected by others, the decisions made by the former director of cash and investments resulted in the loss of $13.1-million of the university’s money.

How was Gale Prizevoits, the former director, who was earning $84,000 a year shortly before she was fired, able to sign off on questionable high-dollar contracts with no authorization from