Richmond learns of 'missing' investments
£48,000 removed from show accounts
CHAMPIONSHIP show treasurer has allegedly misappropriated funds from two major
shows of which he was treasurer. The story came to light a week last Wednesday,
when some of Richmond Dog Show Societys 450 members met for their annual
general meeting at the Bucks Hound Room, Ascot Racecourse.
Mr J Austin Clancey is thought to have started removing money from the accounts of Richmond and Windsor championship shows at a time when the late Mrs Catherine Sutton of the well known Rossut prefix was secretary of both shows.
Mr Clancey, a former bank manager, was entrusted with the treasurers job of both championship shows in the mid 1960s. He was bank manager to Beefy and Catherine Sutton at the time.
Ill health at the age of 82 forced Mr Clancey of Ross-shire, to retire earlier this year, but this had been signalled to members at their AGM in March 2000.
It is thought that the money had been gradually syphoned from both shows accounts over many years and hidden by a simple book entry from one set of accounts to the other. The lost sum, which had reached £48,050 by 2001, was then transferred from one societys account to the other.
The timing of the shows dates in the calendar and their respective AGMs made this convenient.
Immediately after the AGM last week, the 106 year old society issued the following statement:
Following the Annual General Meeting of Richmond Dog Show Society, held at Ascot Racecourse on May 23 2001, the Committee has announced their investigations are ongoing with respect to the sum of £48,050 that it has reported is missing form its Investment and General accounts.
Following the resignation of the Societys Treasurer in February 2001, checks in relation to the societys assets revealed discrepancies between the reserves held in its bank and building society accounts against those sums previously recorded in the societys annual accounts.
Investigations were immediately put in place by the appointment of Investigation Accountants, George Hay of Cambridgeshire, to assess and report on the financial affairs of the Society and legal opinion was obtained from the Societys lawyers Bracher Rawlins of London. The Vice-Chairman, Acting Treasurer and Investigation Accountant recently met with the former Treasurer in order that the full facts of this unfortunate situation could be ascertained. The Societys Trustees have been kept fully briefed of these events and progress to date was reported to the members at the societys AGM on May 23.
Investigations and discussions continue, it is planned that further press releases will be issued as and when appropriate.
Our Dogs contacted Windsor Dog Show Society secretary Mrs Irene Terry who said that the matter would be drawn to the attention of the committee at its next meeting.