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EMBEZZLEMENTS even in kids hockey ! AND organizations not hurrying to disclose either . . . 2020/11/19 10:48  
Another reminder that Directors & Officers need vigilance including - sadly - of each other.

Exposure to theft risks may be universal, but financial controls & arms-length oversight may be pretty shaky in the volunteer universe. It's a recurrent risk whether condo governance or religion or service agencies or parents associations or whatsoever the differences may appear . . . . !

Embezzlers don't need masks nor a stopwatch. Nor be fleet of foot. They might only get detected after years of masking their trail by their own duplicitous accounting. Maybe only after going on a rare vacation, or being unexpectedly hospitalized . . .

Just released by CBC is the result of investigations into youth hockey embezzlements / other frauds in that sector.

Stealing from kids ! How were these frauds detected ? How long did they go on ? What's the final punishment - if ever ? - for fraudster & victim organization alike ?

Nov 19 2020 CBC : “Canadian youth sports groups are losing millions of dollars to fraud and theft” by Jamie Strashin. Subtitle : “ Largest single theft involved $2.4M taken from Ontario Minor Hockey Association”

xcrpt : " . . .( comment from a Canadian academic ) In many cases, a league's money is handled by a single volunteer with what Misener calls a "learned advantage," somebody who knows how the organization's finances work and how to manipulate them. "
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"but wait : there's MORE" 2nd installment - CBC charts EMBEZZLEMENTS in kids hockey 2020/11/20 11:10  
CBC has posted a second installment, this time with a Readers Comment section. ( Will those go viral ? )

And more details about aftermaths, one arguably including "circling the wagons".

Not unusually, one CBC Commenter even criticized condominium governance ( “Drop in the bucket compared to condo board members stuffing their pockets.”; several other comments are below ). Of course unlike parental discretion to take their kids elsewhere, victimized condo / strata owners are locked into ownership & enforceable contributions. More transparency & adequate financial controls ? Or get ( partial ? relief from fidelity ) insurance ? Or sell . . .

# 2 Nov 20 /20 CBC “ Sports groups defrauded by their own members face uphill battle in rebuilding community trust” sub-title : “ $8M stolen in past decade by employees, treasurers and others at sports leagues and associations across Canada” by Jamie Strashin
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CBC Commenters weigh in 2020/11/20 16:45  
non-copyrightable one hopes :

- " . . . . I belonged to a fraternal organization, once the biggest in B.C. of its brand, where eight trustees and the treasurer simply ignored the reports while the secretary siphoned almost a quarter of a million dollars out of the accounts. That group has lost their terrific building, including a large bar/lounge and popular gym, and dwindled to a few dozen members from over 400 - even though their were procedures in place for oversight.

Simple sloth allowed years of embezzlement to occur, until one member, not particularly financially literate, doggedly researched what turned out to be unpaid bills, including to the national/international organization, came to light ( sic ) and the crime was revealed. By that time the money was unrecoverable . . . "

- " . . . . The one case I have knowledge about, involved 1 individual who had complete control of all financial accounts and statements. Say bye bye to $ 100K over an 8 year period. Finally caught because an outside organization who was also a victim reported this person.. . "
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