Entrepreneur Jared Loftus stepped down today from the Capital Area Transit System board, calling the board corrupt and unwilling to work for the betterment of the system.

Loftus accused other board members of beind closed-minded, inept, and unethical in his resignation, and said he'd witnessed criminal behavior while serving on the board.

"While I was shocked to personally discover the criminal activities of a fellow board member, I was appalled to discover the blatant and well-documented attempts to keep it from the public," he wrote.

Loftus said he lost all confidence in the board after this week's contentious meeting where former financial officer Gary Owens, who resigned Monday, accused board member Dalton Honore of ordering him not to get bids for a chartered trip to a Hornets game for CATS employees. Honore denied the accusations.

CATS is under federal investigation for the trip, and CEO Bob Mirabito spent the day Wednesday in Texas answering federal investigators' questions. He said Tuesday that the system could lose federal grant money over the situation.

Loftus also listed actions he felt showed the board's unwillingness to work for the betterment of the system, including ignoring expert recommendations to contract a managerial team, and delaying holding the former CEO Brian Marshall accountable for plans to implement changes to the system after a property tax increase was passed to help fund CATS.

Loftus also encouraged other CATS board members to resign, saying it's "impossible" for the board to move forward with improving the system in its current form.

To read the full letter, click here. Story coutesy of News 2.