New probe of fired manager: Authorities want to know what happened to $275,000 in town money ex-Davie Town Administrator Chris Kovanes used for an investment -- and whether he profited.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2006 The Miami Herald

Byline: Dan Christensen and Nikki Waller

Mar. 10--A state probe of fired Davie Town Administrator Chris Kovanes is now examining an unusual investment deal in which $275,000 of town money appears to be unaccounted for. Town officials tipped off prosecutors and state agents last week after uncovering the deal.

Town Attorney Monroe Kiar, who asked the Town Council to approve the investment last July, has been cut out of the town's parallel internal inquiry. Fort Lauderdale attorney Susan Delegal, a former county attorney, has been retained by Davie to investigate. Kovanes was fired in January after his third arrest since November on criminal charges of stealing $480,000 in town money. Authorities say he created shell companies, awarded them town contracts and funneled the money to himself. An investigation into illegal pornography continues. What both the state...

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