League President Accused of Stealing $800,000

One of the most successful youth soccer programs in the nation is located in North Texas, and has now been dealt with perhaps its biggest loss in 15 years. The Solar Soccer Club has been defeated not by one of its opponents, but allegedly by a trusted former club president who parents say stole hundreds of thousands of dollars, leaving them scrambling to make a save. Parents say David Ringer siphoned off more than $800,000 from them over the last five years. He was the last man many of them would suspect.

As we have stated in previous blogs, a sports organization must implement procedures to protect against volunteer theft such as counter signatures on checks, bank statement reconciliation by someone not authorized to deposit or withdraw, and an annual financial audit by the board.

Source: Brett Shipp, WFAA, April 9, 2011.