The treasurer of Michigan's Lowell Area Schools Athletic Boosters Club recently admitted that she misappropriated nearly $100,000 from the group. Carrie Fisher pleaded guilty to one count of embezzlement and one count of illegal use of a computer in exchange for the dismissal of a forgery charge.
The Grand Rapids Press reports that according to court records, Fisher's embezzlement began several months after she was appointed treasurer in July 2008. The theft went unnoticed for more than two years until vendors who were owed money by the club began complaining about unpaid bills.
An accounts payable audit conducted in March of this year revealed financial inconsistencies. Fisher was found to have forged the signature of club president Doris Drain on checks to herself and falsified tax statements to cover up her misappropriation of $98,588.
According to the news source, Fisher also failed to file annual Internal Revenue Service tax documents for the club during her tenure.
The embezzlement was allowed to go undetected for so long because the club did not have adequate checks and balances in place to protect against or identify it. The case highlights the need for organizations to conduct regular AP audits
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