Losses tallied in alleged HOA embezzlement
March 5, 2010
Steamboat Springs — The Loggers Lane Owners Association is tallying its losses after officials say money was embezzled from the group's coffers. Initial reports indicate $57,000 was stolen from an account.
Steamboat Springs Police Department Detective Jerry Stabile said police are working with the group to determine the exact amount taken. Detectives have a suspect in mind.
"They're auditing their books to see to what extent they were being defrauded," Stabile said.
Stabile declined to name the suspect but said it was a woman who was keeping books for the group and apparently withdrew the money.
Association president Rob Ryg said the group is working to determine the losses but that he did not want to comment on the situation because of the ongoing investigation. He said he did not know how many businesses are part of the association.
"We're in the process of working it out right now," he said.
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Stabile said the money in the fund was collected from association members as dues for snow removal, repairs and other group needs at the commercial complex in west Steamboat.