Corsicana Daily Sun, Corsicana, Texas

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March 18, 2013

Police investigating Derrick Days embezzlement - all funds gone

Corsicana — An embezzler has stolen all the money from the Derrick Days bank account, leaving the festival on shaky legs, according to Executive Director Fran Townes.

The theft was noticed Monday morning by the bank, which called Townes to say that the account was overdrawn. She estimates there was about $10,000 in the account. The only people with access to it are the three members of the board. She didn’t name the other members of the board.

The stolen money was intended to be used for advertising, trash collection, entertainment and printing costs, Townes said.

“We’re not canceling, we’ll do it,” she said of the festival. “If I have to take away from somewhere else or find more underwriters, we’re going to do it. We’re just not sure how we’re going to do it.”

The Corsicana Police Department is investigating the case.

City Manager Connie Standridge said that an emergency meeting has been called for noon Tuesday to discuss the next steps.

“The plan of action is to get together a budget of what we need to have the event proceed, and see where we are going from there,” Standridge said.

The city doesn’t have any money budgeted for these kinds of situations, Standridge said.

“I’m just disappointed,” she said. “The members of the committee have worked so hard. I just hate it for them.”

We'll update this story as we receive more information.

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