After two hours of negotiations, an agreement was reached where the former maintenance director of Floyd County Schools agreed to forfeit property including his residence with the proceeds going to the Floyd County Board of Education.
Derry Richardson was accused of taking more than $600,000 from the school system, using the proceeds to purchase and furnish his Summerville home, according to court documents.
As part of the agreement reached Monday morning, he will give up the property.
The court-appointed receiver will determine how the property is disposed.
Major Mark Wallace of the Floyd County Police Department said the consent order will give the department the ability to dispose of the items seized from Richardson – which has taken up two storage facilities as well space at the police department – adding that two temporary staff members had be to be hired to help with the complex investigation.
That consent order, with the details of the forfeiture, is expected to be filed in Floyd County Superior Court later this week.
Back in April, Floyd County Board of Education officials announced that Richardson, along four others resigned – and that a criminal investigation into what was termed “questionable purchasing practices”, was on-going. A total of seventeen other people were linked to the investigation, including contractors and Richardson’s family members in May.
Meanwhile, the criminal investigation is continuing, according to Wallace.
At this point, Richardson has not been charged.
We’ll continue to follow this story as it develops.