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Friday, August 28, 2009

  More Youth Sports Embezzling: Athletics Business Manager Admits to Taking $1.4 Million

Athletics Business Manager Admits to Taking $1.4 Million From U.S. Coast Guard Academy Athletic Association Over Five Year Period to Pay Gambling Debts - According to The Day, "The athletic association, which supports the academy's intercollegiate athletic program, operated for more than 50 years and had developed its own ad hoc practices that lacked adequate internal controls, such as segregation of duties and effective oversight over handling of funds."

Labels: embezzled

  ¶ 6:37 PM 0 Comments Links to this post

Wednesday, March 11, 2009

  BadJocks First? HS Athletic Association Exec Accused of Embezzling Money From Group

Over the years we've seen many stories of parents or coaches taking money from local Little Leagues or soccer groups. Sometimes pretty substantial sums of money ranging from a few hunderd to tens of thousands of dollars. But usually those are pretty small organizations with little, if any, accounting oversight. But a statewide athletic association? How hard would it be to skim a little off the top at a place like that with dozens of employees and lots of local media attention? Apparently not that hard in Oklahoma.

Here's more on the story from Tulsa World:

Oklahoma Secondary School Activities Association executive secretary Danny Rennels was fired Monday after an investigation uncovered alleged misappropriation of association funds. Rennels had been on a leave of absence since Feb. 13.

He was dismissed in a unanimous vote during a special meeting of the OSSAA's Board of Directors. He had been the highest-ranking official of the organization, which oversees most of Oklahoma high school sports since 1999.

Associate executive secretary Ed Robinson was appointed to take Rennels' place on an interim basis Feb. 13, and his status is unchanged. The OSSAA issued a release Monday stating it had learned on Feb. 2 that it appeared Rennels had misappropriated OSSAA funds.

The release states that, "The Association retained the law firm of Gungoll, Jackson, Collins, Box and Devoll, P.C., and Fraud and Forensic Investigations, LLC, (1) to investigate the actions of Danny Rennels, (2) to determine if misappropriated funds can be recovered in whole or in part and (3) to report to the appropriate law enforcement and regulatory agencies."

Thanks to JBC for the link!

Labels: embezzled

  ¶ 7:10 AM 0 Comments Links to this post

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