The former CEO at Manchester, Iowa-based Regional Medical Center has pleaded guilty to first-degree theft, according to KDTH, a local radio news station.
Lon Butikofer, PhD, along with the hospital's former system fund development director, Mike Briggs, were accused of misappropriating $256,000 of the hospital's money for personal use. The thefts took place from January 2009 to March 2017.
Dr. Butikofer's sentencing is scheduled for Dec. 3. He faces up to 10 years in prison.
Mr. Briggs has pleaded not guilty to the theft charge. His trial is slated to begin Dec. 4.
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