MONTEBELLO, Calif. (KABC) -- The Montebello Unified School District is under scrutiny by the U.S. Securities and Exchange Commission.
The agency has directed the school district to preserve all documents, emails and notes, including records concerning district finances, accounting, budget, interim financial reports, financial statements and financial solvency.
In other words, MUSD was told not to destroy any district records.
The district has fired its former district chief business officer Ruben Rojas.
The district confirms it recently underwent a state audit, which found concerns regarding a $300 million bond program.
MUSD released the following statement regarding the SEC inquiry:
"The Montebello Unified School District has received a notice of an inquiry from the Securities and Exchange Commission (SEC) and while we can't comment on the specifics of the inquiry we can state (we) are working with the SEC to understand the scope of the inquiry and intend to fully cooperate with the SEC."
The SEC told Eyewitness News that it cannot release any details of any investigations until official complaints are filed. At that point, information will be posted on the SEC website.
Montebello Unified School District under scrutiny by US Securities and Exchange Commission