The Ford Barn

oldford2 · 10-15-2015, 06:21 PM

I think the fox was guarding the chicken coop.

bk53 · 10-15-2015, 06:30 PM

wow, what a mess. I'll bite my tongue for now.

swoopNZ · 10-15-2015, 06:56 PM

Probably bought himself a Sportsman.

rheltzel · 10-15-2015, 07:20 PM

Someone was asleep at the switch. Time to amend the EFV8 by-laws to require annual audits.

DavidG · 10-15-2015, 07:29 PM

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".

Ross F-1 · 10-15-2015, 07:54 PM

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Not sure exactly what a "Complaint" is, unless it is local legal lingo for "subpoena". Sadly, I'd guess lawyers will bill out about half of whatever is recovered. Who can you trust these days?!

keith oh · 10-15-2015, 08:37 PM

Ross you sure hit the nail on the head concerning " whatever is recovered ", I'd be surprised if it is only half.

Bored&Stroked · 10-15-2015, 09:05 PM

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

jim1932 · 10-15-2015, 09:39 PM

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

ford38v8 · 10-16-2015, 01:38 AM

Quote:

Originally Posted by oldford2

I think the fox was guarding the chicken coop.

A popular sentiment for longer than was reported.

klicker · 10-16-2015, 04:14 AM

Quote:

Originally Posted by jim1932

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

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.

rotorwrench · 10-16-2015, 09:21 AM

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.

Jeff/Illinois · 10-16-2015, 12:29 PM

Quote:

Originally Posted by rotorwrench

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.

Took the words right out of my mouth.

NOW we know why they 'weren't able' to produce the '35-'36 Pickup book that Lawson Cox worked hard to put together

mike in tucson · 10-16-2015, 01:10 PM

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.

rheltzel · 10-16-2015, 01:51 PM

An honest person knows how to resist temptation.

rockfla · 10-16-2015, 02:59 PM

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!!

ford38v8 · 10-16-2015, 03:03 PM

I volunteer to go serve papers on him in person. Per Diem, of course.

rockfla · 10-16-2015, 03:24 PM

I'll server them pro bono!!! In normal speak.....That's FREE.

DavidG · 10-16-2015, 03:24 PM

Sorry, Alan, that took place some time ago.

Joe Immler · 10-16-2015, 04:28 PM

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

10-15-2015, 06:21 PM	#1
oldford2 Senior Member Join Date: May 2010 Location: pittsfield, MA Posts: 2,086	Notice in the EFV8 Times magazine I think the fox was guarding the chicken coop.

10-15-2015, 06:30 PM	#2
bk53 Senior Member Join Date: Mar 2012 Location: Near Dallas Posts: 387	Re: Notice in the EFV8 Times magazine wow, what a mess. I'll bite my tongue for now. __________________ 8ba 276 dual 97s navarro heads

10-15-2015, 06:56 PM	#3
swoopNZ MEMBER EMERITUS Join Date: May 2010 Location: New Zealand Posts: 1,380	Re: Notice in the EFV8 Times magazine Probably bought himself a Sportsman.

10-15-2015, 07:20 PM	#4
rheltzel Senior Member Join Date: Jul 2013 Location: Sacramento, CA Posts: 368	Re: Notice in the EFV8 Times magazine Someone was asleep at the switch. Time to amend the EFV8 by-laws to require annual audits.

10-15-2015, 07:29 PM	#5
DavidG Senior Member Join Date: May 2010 Location: southeastern Michigan Posts: 10,101	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".

10-15-2015, 07:54 PM	#6
Ross F-1 Senior Member Join Date: Nov 2010 Location: NM Posts: 2,438	Re: Notice in the EFV8 Times magazine Sponsored Links (Register now to hide all advertisements) Not sure exactly what a "Complaint" is, unless it is local legal lingo for "subpoena". Sadly, I'd guess lawyers will bill out about half of whatever is recovered. Who can you trust these days?! __________________ '52 F-1, EAB flathead

10-15-2015, 08:37 PM	#7
keith oh Senior Member Join Date: May 2010 Location: Millersport, central ohio Posts: 668	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.

10-15-2015, 09:05 PM	#8
Bored&Stroked Senior Member Join Date: Jan 2011 Location: Central Ohio Posts: 5,067	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
jim1932 Senior Member Join Date: Oct 2010 Location: Hancock, MA Posts: 2,781	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 __________________ Short URL: http://smu.gs/14g7eDW

10-16-2015, 09:21 AM	#12
rotorwrench Senior Member Join Date: Jun 2010 Location: San Antonio, Texas Posts: 16,436	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.

10-16-2015, 01:10 PM	#14
mike in tucson Senior Member Join Date: Dec 2010 Location: Tucson, AZ Posts: 177	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.

10-16-2015, 01:51 PM	#15
rheltzel Senior Member Join Date: Jul 2013 Location: Sacramento, CA Posts: 368	Re: Notice in the EFV8 Times magazine An honest person knows how to resist temptation.

10-16-2015, 02:59 PM	#16
rockfla Senior Member Join Date: Mar 2014 Location: Jacksonville FL Posts: 3,956	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!!

10-16-2015, 03:03 PM	#17
ford38v8 Senior Member Join Date: Jul 2011 Location: SF Bay Area Posts: 6,645	Re: Notice in the EFV8 Times magazine I volunteer to go serve papers on him in person. Per Diem, of course. __________________ Alan

10-16-2015, 03:24 PM	#18
rockfla Senior Member Join Date: Mar 2014 Location: Jacksonville FL Posts: 3,956	Re: Notice in the EFV8 Times magazine I'll server them pro bono!!! In normal speak.....That's FREE.

10-16-2015, 04:28 PM	#20
Joe Immler Senior Member Join Date: Dec 2012 Location: Massillon, Ohio Posts: 783	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