According to the Tribune-Review an investigation is underway into accusations of financial mismanagement at the Three Rivers Regatta. The certified public accountant conducting the inquiry stated that former vendor and employees will be part of the "under a magnifying glass" treatment.

The president of Corporate Board Services, Ray Ojerholm (of the Pittsburgh financial investigations firm) contacted a regatta committee that it could not complete its review by the week before.

John Brosky, a state Superior Court senior judge who chairs the regatta committee overseeing the review, stated that members agreed last week to an extension, and a report is not expected until the end of November. Ida D'Errico, who was fired in July, has accused Pittsburgh Regatta founder Eugene Connelly of using $227,000 in regatta funds for his personal use, and she provided the 42 members of the regatta board with papers and documents.

The Regatta founder has said the transactions were repayments of loans he made to the 20-year-old event. He characterizes D'Errico as a disgruntled former employee. The regatta's board of directors established a committee, headed by Brosky, to direct an investigation. On September 30th, the committee hired Corporate Board Services to do the work.

The Internal Revenue Service is also conducting a separate investigation of the regatta's finances.

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