Missing Cabr Money Mounts


Police are continuing their criminal investigation into the alleged embezzlement of thousands of dollars from the Central Arizona Board of Realtors.

"Basically, if I had to comment on (the case) at this time, it would be to say that this is a very complex, complicated investigation that is going to take some time," Payson Police Det. Chris Haack said.

CABR officials, who initially estimated that between $40,000 and $60,000 had been taken, now think that as much as $100,000 is missing.

Jill Morgan, president of CABR, said she first became aware of the board's depleted bank accounts in mid-April, when a supplier notified her that a check had bounced.

When she checked with the bank regarding the overdraft, she discovered that someone had made large withdrawals from the organization's bank account.

"One of the things that first tipped them off was a money market account that had around $40,000 in it," Haack said. "When they checked, it was down to just over $2."

Haack said he began his investigation by sorting through stacks of paperwork to determine precisely how much money is missing from CABR's accounts.

"I'm still getting bank records, and we will (wrap up the investigation) as expediently as we can," he said. "But for those who are looking for action right now, it's not going to happen."

Once the investigation is completed, Haack said he will present his findings to the county attorney's office, which will decide whether to prosecute.

Commenting has been disabled for this item.