Post by macintosh on Sept 30, 2013 19:51:32 GMT -5
The treasurer of a Rensselaer Polytechnic Institute fraternity has absconded with $321,000 in funds, a new lawsuit alleges.
Ian Finn served as treasurer for the Acacia Fraternity's bank accounts as well as a fund named after its founder, George Dickey. Finn, who is an RPI graduate, served as the fraternity's treasurer from 2005 to February 2013, according to the suit, filed Thursday in federal court.
Finn, 38, used the money to pay for personal expenses, as well as those of family and friends, the suit alleges. He is accused of removing the fraternity's books, records and accounts out of state. Fraternity officials would only say that they don't know where the money went, just that it is gone.
Finn currently lives in Summit, N.J. He is a senior construction manager at New Jersey Transit, according to his LinkedIn profile. He graduated from RPI in 1999 with degrees in architecture and building sciences.
Albany attorney Richard Weisz is representing the fraternity in the case. He would not provide any details and did not say why the fraternity is suing Finn instead of filing criminal charges.
"The allegation is that the money is missing," he said.
Part of the problem may be that Finn has the fraternity's records, according to the suit, which may be the strongest evidence against him. The suit also asks for the return of its financial records and says the fraternity cannot continue to do business without its books.
The fraternity still has newsletters posted to its website in which alumni who wish to pay their annual dues can send checks to Finn at his New Jersey address. Finn did not respond to calls to his cell phone or to an email on Friday. The most recent publicly available tax returns for the fraternity, from 2012, show it had just $5,000 in the bank.
The Acacia fraternity house is located at 145 Sunset Terrace.
Finn traveled to Troy periodically to update the fraternity's board on its finances and made repeated false claims "for the purposes of concealing his activities," according to the lawsuit. Finn embezzled $268,000 from the fraternity's accounts, and $53,000 from the George Dickie Fund, the suit claims. Dickie, who worked in the aerospace industry, founded the school's fraternity chapter.
Acacia President George Van Horne said he did not know where the money disappeared to and is eager to find out, which is the purpose of the suit. He said the fraternity would continue to operate.
"We are in no danger of closing," he said.
On its website, the fraternity says its mission is to help others. "Being part of a fraternity is a lot more than just living in a house. It is learning to deal with different types of people, learning responsibility for your actions, having friends to help you through difficulties, and most importantly forming ties with friends that will last a lifetime."
swaldman@timesunion.com • 518-454-5080 • @518schools
Ian Finn served as treasurer for the Acacia Fraternity's bank accounts as well as a fund named after its founder, George Dickey. Finn, who is an RPI graduate, served as the fraternity's treasurer from 2005 to February 2013, according to the suit, filed Thursday in federal court.
Finn, 38, used the money to pay for personal expenses, as well as those of family and friends, the suit alleges. He is accused of removing the fraternity's books, records and accounts out of state. Fraternity officials would only say that they don't know where the money went, just that it is gone.
Finn currently lives in Summit, N.J. He is a senior construction manager at New Jersey Transit, according to his LinkedIn profile. He graduated from RPI in 1999 with degrees in architecture and building sciences.
Albany attorney Richard Weisz is representing the fraternity in the case. He would not provide any details and did not say why the fraternity is suing Finn instead of filing criminal charges.
"The allegation is that the money is missing," he said.
Part of the problem may be that Finn has the fraternity's records, according to the suit, which may be the strongest evidence against him. The suit also asks for the return of its financial records and says the fraternity cannot continue to do business without its books.
The fraternity still has newsletters posted to its website in which alumni who wish to pay their annual dues can send checks to Finn at his New Jersey address. Finn did not respond to calls to his cell phone or to an email on Friday. The most recent publicly available tax returns for the fraternity, from 2012, show it had just $5,000 in the bank.
The Acacia fraternity house is located at 145 Sunset Terrace.
Finn traveled to Troy periodically to update the fraternity's board on its finances and made repeated false claims "for the purposes of concealing his activities," according to the lawsuit. Finn embezzled $268,000 from the fraternity's accounts, and $53,000 from the George Dickie Fund, the suit claims. Dickie, who worked in the aerospace industry, founded the school's fraternity chapter.
Acacia President George Van Horne said he did not know where the money disappeared to and is eager to find out, which is the purpose of the suit. He said the fraternity would continue to operate.
"We are in no danger of closing," he said.
On its website, the fraternity says its mission is to help others. "Being part of a fraternity is a lot more than just living in a house. It is learning to deal with different types of people, learning responsibility for your actions, having friends to help you through difficulties, and most importantly forming ties with friends that will last a lifetime."
swaldman@timesunion.com • 518-454-5080 • @518schools
