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Tuesday, January 12, 2010

Embezzlement investigation looms over chamber

| Chris Winston

chris.winston@roanoke.com, 381-1678

More than six months after an embezzlement investigation was launched and the Montgomery County Chamber of Commerce president departed his post, there continue to be more questions than answers.

Chamber officials, citing an ongoing investigation, continue to say they cannot discuss the investigation or its effect on chamber finances.

But the chamber board chairman, in a Monday morning e-mail to chamber members, said the board had "taken action" to ensure that policies are followed and "the security of your Chamber dollars."

"Although the Board of Directors initiated this investigation immediately after a red flag was raised late last June, a full and proper investigation of this nature takes time," said Blacksburg business owner Mike Soriano in the e-mail.

Soriano said the chamber has cooperated fully with the investigating authorities and a "complete accounting" of all chamber and Tourism Development Council funds was performed by an independent agency and turned over to authorities.

"Internally, through this accounting, it became painfully obvious that while our staff financial policies and procedures were very good on paper, the Chamber had issues with implementation," Soriano said.

Shane Adams, who was the chamber's president and CEO, left the organization June 29. Soon, investigators looking into what they describe as an embezzlement case searched Adams' home and former office and took two computers, paperwork, clothing and liquor, according to search warrants.

"The investigation has thus far revealed that there has [sic] been numerous questionable purchases made by the President/CEO of the Chamber of Commerce," according to the search warrant affidavit filed July 9 in Montgomery County Circuit Court.

The purchases, billed to the chamber's account, "consist of personal items and expenditures that are not consistent with the routine operation of the Chamber of Commerce," the affidavit said.

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