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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
Virginia State Police has seized letters of credit (L/Cs) as well as a wide range of documents and computers in the course of its investigations into alleged embezzlement at Rooftop of Virginia Community Action Programme (RVCAP).
Executive director, Chris Bedsaul, and human resources manager, Sharon Nichols, of the non-profit agency based in the city of Galax in the US state of Virginia have been suspended.
Informant
Police acting on information provided by an informant of the possible misuse of funds at RVCAP executed a search warrant at the non-profit agencies headquarters.
Their search found L/Cs, along with money orders, bank drafts, cashiers checks and bank cheques that revealed the "obtaining, secreting, transfer and/or concealment of assets and the expenditure of money."
Irregularities
Investigators also say they have found irregularities in financial management, grants management, internal controls and budgeting at RVCAP's offices.
Funds were allegedly misappropriated to pay airfares for people who did not work at RVCAP as well as to employees for non-business related travel and training.
Financing
RVCAP provides educational, fuel assistance and other support for low-income families in Carroll County, Grayson County and the city of Galax.
The non-profit agency is financed by federal, state and local funds.
This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.