Accounts payable audit finds embezzlement at Area Development Partnership

June 7, 2012 Stacey Stiglets, former vice president of finance and administration for the Area Development Partnership in Hattiesburg, Mississippi, is being investigated for embezzlement after an accounts payable audit found discrepancies in the organization's financial records.

Stacey Stiglets, former vice president of finance and administration for the Area Development Partnership in Hattiesburg, Mississippi, is being investigated for embezzlement after an accounts payable audit found discrepancies in the organization's financial records.

WHLT-TV reports that Stiglets was fired from her position at ADP and is being charged with felony embezzlement by another employee of the company. The news station states that the Hattiesburg Police Department is working with a local accounting firm to analyze financial records and that the investigation should be completed within two to three weeks.

According to the Hattiesburg American, ADP has not yet released the amount allegedly stolen since the investigation is ongoing. Hattiesburg police spokesman Lieutenant Eric Proulx says the illegal activities involved using an electronic fund transfer card to ADP for personal purchases. The news source writes that at the annual ADP meeting in December 2011, president Chad Newell stated that the organization successfully oversaw a campaign that added 130 investors and $2.4 million to the budget.

According to its website, the ADP is a private non-profit organization aimed at stimulating economic and development growth for businesses in Hattiesburg through its member and partner resources.

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Category: Accounts Payable Analysis

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