Former treasurer arrested after AP audit finds embezzlement

The former treasurer for the Erie Canal Beagle Club in Lynnville, Indiana, has been arrested and charged with stealing more than $60,000 from the organization.

According to Warrick News, John Ulrich, who served as the club's treasurer for more than four years, had been under investigation ever since a routine accounts payable audit uncovered evidence of theft from the Beagle Club. Further research revealed that Ulrich had been stealing money from the organization's checking accounts.

Ulrich is accused of writing unauthorized checks to himself from the Beagle Club, totaling nearly $48,000, and using the stolen money to pay for a variety of personal purchases, reports WFIE-TV. Investigators also allege that Ulrich embezzled another $12,000 by writing checks to other businesses for services and goods that were never rendered. Ulrich was arrested but has been released after posting bail, and he is currently awaiting trial.

Businesses and organizations in every industry can better protect their money by using accounts payable audits to uncover any financial discrepancies, such as embezzlement, unauthorized payments and many other forms of misappropriation. These tools also help companies remain compliant with federal, state and local regulations.

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