WBRZ - Baton Rouge

NEW ORLEANS - New Orleans Regional Business Park misspent nearly $60,000 in federal grants and didn't properly record another $95,000, according to a legislative audit.

The company also paid $2,000 to a consulting firm that is owned by its executive director, Roy Mack Sr. It's a violation of state ethics laws. Mack has since been fired.

The board says it has changed internal accounting procedures to avoid problems in the future. It also promised they wouldn't "engage any employee to render contractual services."