Saturday, January 3, 2009

Indiana Arts Society Clean Out Of All Its Cash - Former Assistant Treasurer Suspected Of Embezzlement

The Penrod Society, an art funding institution based in Indianapolis, Indiana, was robbed of some $380,000 it has been reported. Brandon Benker, the assistant treasurer of the organization is reportedly being investigated for the crime. His attorney, Jim Voyles, has acknowledged that Benker stole the case because he apparently had a gambling problem. There have been no charges filed yet and the case is ongoing. The Penrod Society, a 42 year old all volunteer organization, has been all but wiped out of its cash on hand.

Read the statement of Penrod's president, James Art here.

Read the story here, here and here.

Update (4/28/10): Brandon Benker, now 28, was sentenced to three years in prison for embezzling $380,000 from The Penrod Society, where he had been employed as the assistant treasurer. He had previously plead guilty to felony theft charge charges. The thefts reportedly occurred over a nine month period to finance Benker's apparent gambling addiction. He must also pay restitution.

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