Train Clubs and Jail


D&J RailRoad said:
I've consulted already. The county investigator has been assigned to the case. Restitution will be part of the sentencing. This should be a slam dunk conviction as the details are well documented with our club minutes, bank statements and his own testimony on a recorded Zoom call about the issue. Wheels of justice turn very slow.
I'll prolly kick in a grand or two to keep things going and a few other members have offered the same.
He has assets. His wife is an SES for the government. A lien on his property or vehicle will recover.
Click to expand...
The lien will only be recovered if and when he sells the asset.
 
Going further back in the records, looks like he did this back in April 2022.
I'm seeing over $12,000, under the embezzler's name, transferred out in 4 transactions to another bank. Two weeks later, all the money is transferred back into the club account. The embezzler was president of the club then. A week later the actual treasurer of the club transferred the account balance into a new account number. A month later, May 2022 the embezzler ran for the treasurer seat and won and the other guy who resigned the prez seat to me last month ran for the prez seat.
I've tried to contact the guy who was treasurer at the time, but he's not responding. I'm thinkin he knows something about the transfer of the money out then back. He set up a new account number a week after that occurred.
 
Finally talked to the former treasurer today. He had moved up near Cincinnati, OH since he left the club last year.
His story is that the prez (embezzler) never turned the books over to him but just did all the accounting stuff himself then telling the treasurer he was going to turn the books over to him soon. He said the prez claimed a hacker took the money but the FBI was able to get the money was returned. I can't find any evidence of an FBI report and the bank doesn't have anything about that either.
 
I'm overhauling our club operating practices by establishing job descriptions and procedures for each officer position.
As we will be applying for grants in the near future to build our long term vision of a club, we have to start acting like a serious business.
The previous approach of the club leadership has been pretty much a simple, just run trains on our module operation. We have to change that now to a business approach with all the various programs, i.e. public relations, marketing, business plan, operating procedures, organizational behavior, and GAAP used in our financial management.
One of the primary targets is the treasurer role. Bank statements will be delivered to the president, unopened before the treasurer gets it. The clubs bank account will deliver an email alert to the prez and treasurer when anyone accesses the account online, by ATM or transaction at the bank. A whole slew of new processes going into effect as well so something like this never happens again.
This has severely crippled our moving forward with our business plan, but I think it's salvageable if managed properly.
 
We have finally closed this issue out. The embezzler was served with an arrest warrant last week. I called him and suggested he quit the club rather than face a motion to expel him by the membership. A couple days later he called me so that his wife could talk to me. She didn't know about any of this and was very upset about it all. Yesterday, she and her husband met me at the former presidents house to hand me a check for the total amount. Last night, he sent an email out to the club that he has decided to quit.
Now, we can move on with the pursuit of our vision.
 
Fantastic bloodhound work on the finances of the club there, KEN.
Kudos to both you, for salvaging the puzzle, and the S.O.B.'s wife for having the wherewithal to step up and make good. I wonder what he did with the money?
 
He told us he invested it in Bitcoin through a broker. He told us the money was earning quite a bit but then the broker modified the tracking software and the software author locked the account because of the unauthorized software modification.
This is a pattern of investment scams. He still thinks he'll get the money back out someday. Everyone else recognizes the scam.
 
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