Todd Hudspeth, CEO of Atlantic, Iowa-based Cass County Health System was arrested on felony forgery charges after he surrendered himself to police April 15, according to the Pilot Tribune.
Mr. Hudspeth allegedly forged his ex-wife's name on financial documents without her knowledge, according to the report.
A representative of CCHS' board characterized the charges as "personal banking matters," and said Mr. Hudspeth remains in his role. CCHS officials did not make further comments. Mr. Hudspeth has served as CCHS CEO since 2014.
Mr. Hudspeth released a statement to KJAN radio station saying he had received an investment disbursement from a fund early this year and was anxious to create an account with the money and pay his son's college expenses, according to the report.
"In my haste I made a poor decision and endorsed the check with both my ex-wife's name and my own to deposit the funds into a checking account," he said, calling his actions "a foolish shortcut," according to the report.