skatingforums
Announcements and Introductions => Media Center => Topic started by: AgnesNitt on April 21, 2011, 07:22:45 PM
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I think this has been mentioned in passing. Now it's in court. She doesn't even appear to have been a very good embezzler. She wrote the checks to herself. Whatever happened to the good old days where they set up false companies, or overpaid existing bills then asked for a refund in their own name, or asked for a kickback. These modern embezzlers are just lowering the tone of the whole criminal enterprise.
Amy McCann ordered to trial
Former skating club treasurer accused of theft
Updated: Tuesday, 19 Apr 2011, 1:53 PM CDT
Published : Tuesday, 19 Apr 2011, 1:53 PM CDT
APPLETON - A Fox Valley woman charged with stealing $36,000 from a figure skating club has been ordered to stand trial.
Amy McCann, 38, waived her right to a preliminary hearing in Outagamie County court Tuesday.
McCann was the treasurer of the Fox Valley Figure Skating Club. She is accused of writing 37 checks in her own name.
According to the criminal complaint, McCann used the money for legal fees associated with her divorce.
She is due back in court to enter a plea on the charges next week.
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A club with...$36,000!!!!?????
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A club with...$36,000!!!!?????
That was my initial thought as well, however this club seems to manage the rink's freestyle sessions as well.. and that can mean money will add up quickly.
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Seems more that the club took in that amount of money- and she took it out.
But having seen the publically available reports of our local clubs, it seems like a few of them have a lot of assets. I was surprised by the amount one of the local clubs has. Large numbers for sure.
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The Fox Valley Figure Skating Club offers freestyle, testing and competitions at TWO different rinks (one seasonal, one year-round), which is probably why they have multiple accounts.
I learned (as a club board member) that rinks require a deposit to hold ice for rentals, and the club must pay the ice bill even if the members haven't paid their full shares yet. Some rinks won't let you be choosy about sessions, so "Sunday nights for the season" means the club buys that ice time, even if everyone goes away for Easter and the session's empty or cancelled.
Clubs that rent ice time have to keep some cash assets on reserve, even at the end of the season. Some clubs have lost their longstanding ice sessions because they didn't have the cash in the bank to pay the rink's deposit or payment in July when the bill came due.
Not all clubs have substantial assets - it really depends on how much the club does for the skaters. A name-only club that doesn't host any seminars, competitions, tests or freestyle sessions, they have low overhead.
A club like Fox Valley is very active and has a lot of members, so they would have more assets in the bank. I remember one very happy year where a competition at my first skating club brought in so much revenue that the club was able to pay their August ice bill in full and get a discount rather than scraping month-to-month and reminding members about overdue payments.
Then there are the really full-service skating clubs that own the facility, like Ann Arbor. Obviously, having property in the Club's name means they have assets. I wonder how many of them exist today?
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There was an ABC News / WBAY update on this story today:
http://www.wbay.com/story/14567392/2011/05/03/lost-money-returned-to-valley-figure-skating-club
Lost Money Returned to Valley Figure Skating Club
The once uncertain future for the Valley Figure Skating Club is a little clearer. The group lost more than $36,000 last November when its former treasurer allegedly embezzled the money. Officials said without the money to pay for ice time, they were considering calling it quits.
But then they say things suddenly changed last week when the attorney for the woman accused of the embezzlement forwarded $10,000 and then on Tuesday nearly $27,000 more, covering the amount lost.
The skating club still plans to hold a fund-raising performance this weekend -- a performance originally scheduled to help save the group.
The shows will take place Friday night at 7 P.M. and Saturday at 2 P.M. and 7 P.M. All shows are at Appleton Family Ice Center.
She probably borrowed from someone else in order to get a reduced sentence, but I'm really glad the club was repaid.
I'm sure Valley FSC incurred legal fees as well. Hope their fundraiser goes well this weekend.
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My former club had also had a treasurer that embezzled money (not this same lady). I don't remember how much she took, but the club president felt sorry for her because she threatened to kill herself if they pressed charges.
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Sounds like this isn't an isolated incident:
http://minnesota.cbslocal.com/2011/07/27/charges-skating-club-treasurer-stole-thousands-from-club/
http://www.vocm.com/newsarticle.asp?mn=2&id=17878&popular=1
I guess regular audits are very prudent, to prevent temptation in the first place.