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10-15-2015, 06:21 PM | #1 |
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Notice in the EFV8 Times magazine
I think the fox was guarding the chicken coop.
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10-15-2015, 06:30 PM | #2 |
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Re: Notice in the EFV8 Times magazine
wow, what a mess. I'll bite my tongue for now.
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10-15-2015, 06:56 PM | #3 |
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Re: Notice in the EFV8 Times magazine
Probably bought himself a Sportsman.
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10-15-2015, 07:20 PM | #4 |
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Re: Notice in the EFV8 Times magazine
Someone was asleep at the switch. Time to amend the EFV8 by-laws to require annual audits.
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10-15-2015, 07:29 PM | #5 |
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Re: Notice in the EFV8 Times magazine
It was the adoption of annual independent audits starting with the 2012 results and the formation of an audit committee that brought this situation to light. You may have noted that the 2014 financial results published earlier this year in the magazine carried the heading of "audited".
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10-15-2015, 07:54 PM | #6 |
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Re: Notice in the EFV8 Times magazine
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10-15-2015, 08:37 PM | #7 |
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Re: Notice in the EFV8 Times magazine
Ross you sure hit the nail on the head concerning " whatever is recovered ", I'd be surprised if it is only half.
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10-15-2015, 09:05 PM | #8 |
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Re: Notice in the EFV8 Times magazine
Damn shame . . . don't know the man and I'm being a bit premature in my conclusions, but if the complaint/facts are true, then I can't imagine the number of friends and business partners that he threw under the proverbial bus - totally abusing all trust and faith that was bestowed upon him and his position.
I can only hope it isn't true . . . but my hunch is that where there is financial smoke, there is fire. Thank God that a formal audit procedure is now in place - should have been caught many years ago (easy to say now). And sadly, the $$$ will likely never be recovered . . . or they wouldn't have been stolen in the first place. Dale |
10-15-2015, 09:39 PM | #9 |
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Re: Notice in the EFV8 Times magazine
Shame on us for providing the opportunity..... as a fraud auditor, the lack of any oversight will eventually lead to fraud. or to be politically correct..... alleged fraud
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10-16-2015, 01:38 AM | #10 |
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Re: Notice in the EFV8 Times magazine
A popular sentiment for longer than was reported.
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10-16-2015, 04:14 AM | #11 |
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Re: Notice in the EFV8 Times magazine
I agree. In my law enforcement experience, nearly all internal theft is the result of poor procedures (I.e. allowing one person full resposibility for finances), or not following the procedures that are in place. There should be more than one person involved in handling money, in addition to regular audits. Many establishments have rules for two signatures, two people balancing the ledger....checks and balances that get ignored or disregarded as trust is built. As Jim says, lack of oversight. I can also almost guarantee that video gambling is involved, in which case there may be no money to recover.
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10-16-2015, 09:21 AM | #12 |
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Re: Notice in the EFV8 Times magazine
Maybe they will be able to fund some of the V8 restoration books that were pushed aside due to lack of funding. At least as soon as the coffer starts to refill anyway.
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10-16-2015, 12:29 PM | #13 | |
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Re: Notice in the EFV8 Times magazine
Quote:
NOW we know why they 'weren't able' to produce the '35-'36 Pickup book that Lawson Cox worked hard to put together |
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10-16-2015, 01:10 PM | #14 |
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Re: Notice in the EFV8 Times magazine
Sad that this happens quite often when an honest person is put into a position that includes temptation......we do the same thing every election cycle....turning honest people into crooks by electing them.
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10-16-2015, 01:51 PM | #15 |
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Re: Notice in the EFV8 Times magazine
An honest person knows how to resist temptation.
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10-16-2015, 02:59 PM | #16 |
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Re: Notice in the EFV8 Times magazine
The best outcome as I see it will be jail time, I would doubt ANY money will be recovered and any that may be "forced" to be paid back should be looked at as lucky!!
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10-16-2015, 03:03 PM | #17 |
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Re: Notice in the EFV8 Times magazine
I volunteer to go serve papers on him in person. Per Diem, of course.
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10-16-2015, 03:24 PM | #18 |
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Re: Notice in the EFV8 Times magazine
I'll server them pro bono!!! In normal speak.....That's FREE.
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10-16-2015, 03:24 PM | #19 |
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Re: Notice in the EFV8 Times magazine
Sorry, Alan, that took place some time ago.
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10-16-2015, 04:28 PM | #20 |
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Re: Notice in the EFV8 Times magazine
Whatever organizations there is,if it handles money there MUST be at least two audits. I have seen this happen in some other groups I belong to. Not as much money as this but still, crooks is crooks. Ford38 and rockfla rather than serve the papers, let's collect the money after the verdict has been served. I have a CCP and won't charge the club anything
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