The authority's Board of Directors confirmed Choudri's resignation at its meeting on Thursday. In closed session, the board appointed Joe Stephenshaw, the Director of the California Department of Finance, as the authority's interim president.
In a letter to employees obtained by CBS News Sacramento, Choudri said, "This was not an easy decision. Leading the Authority has been one of the most meaningful and rewarding chapters of my professional life. Over the past two years, this project has evolved from one facing significant challenges to one that is now irreversible and on track to deliver the first true high-speed rail system in North America."
Ian Choudri CBSBetween 2024 and 2026, the report stated that 60%, or $680,500, did not comply with state regulations requiring advance approval. The report also found $592,000 of the unapproved expenses were determined to be "unallowable."
In addition, whistleblowers provided CBS California Investigates expense records that found consultants billed taxpayers' late night rides from a street in Folsom where Choudri owns a home, along with rides to or from nearby restaurants and bars.
When voters approved the initial bond funding for the project, the entire system was expected to cost between $33 billion and $45 billion. The CHSRA's 2026 Business Plan showed it would take $126 billion to complete Phase 1 of the project.
In July, the OIG warned that the state's high-speed rail project could run out of money as soon as December 2027 unless the state borrows billions to keep construction on schedule.
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