Local News

Possible embezzlement from Wake Forest car dealership probed

Posted March 21, 2012 5:23 p.m. EDT
Updated March 22, 2012 10:38 a.m. EDT

— Police said Wednesday that they are investigating what they believe is an embezzlement case at a Wake Forest car dealership.

Investigators searched the bank account of a former Crossroads Ford accounting manager. They believe the embezzlement occurred between January 2009 and last March, according to the application for the search warrant.

An audit of the financial records for Crossroads Ford of Wake Forest revealed that $118,647.27 was missing during that period, the application states.

The former manager hasn't been charged with a crime, but investigators state in the application that they believe she took money from deposits at the dealership and replaced cash with checks she had taken from the mail and “any other source available.”

The total deposits remained intact, but the amount in checks and cash had been altered, investigators said, adding that the former manager also made journal entries to conceal the missing funds.