Local Nonprofit's Finances Plummet as Treasurer Allegedly Steals $246,000
A shocking case of financial malfeasance has come to light in the Philadelphia area, as the former treasurer of a state association for occupational therapists is accused of siphoning off nearly $250,000 from the nonprofit organization. According to authorities, Michael Fantuzzo, 40, of Westmoreland County, used his position to plunder the Pennsylvania Occupational Therapy Association's savings account, using it to indulge in lavish personal expenses.
The alleged theft came to light when a financial review at the nonprofit uncovered suspicious bank transactions last year, prompting investigators to launch an inquiry. Fantuzzo, who served as a volunteer treasurer for the organization, allegedly used his access to drain the association's accounts, making purchases such as a new hot tub and paying for vacations to Disney World and the Outer Banks.
In addition to these personal expenses, Fantuzzo also used the nonprofit's money to pay off debts on his own credit cards, accumulating over $100,000 in debt. The treasurer also made unauthorized transactions with the association's credit card, charging more than $128,000 for personal use. Furthermore, some of the funds were transferred directly to Fantuzzo and his wife's PayPal accounts.
The board of directors at the nonprofit discovered the financial irregularities when they questioned Fantuzzo about the organization's troubled finances. In response, he allegedly admitted to draining the savings account for personal expenses.
Fantuzzo turned himself in to authorities on Friday and is now facing charges of theft by deception and related offenses. He was arraigned by a Magisterial District Judge, who set his bail at $100,000. A preliminary hearing is scheduled for February 17.
The association has condemned Fantuzzo's actions, stating that it "was deeply troubling to learn that Mr. Fantuzzo chose to abuse the trust we placed in him with respect to POTA’s financial accounts." The organization has expressed gratitude to the detectives who investigated the case and pledged to continue working with authorities to ensure justice is served.
A shocking case of financial malfeasance has come to light in the Philadelphia area, as the former treasurer of a state association for occupational therapists is accused of siphoning off nearly $250,000 from the nonprofit organization. According to authorities, Michael Fantuzzo, 40, of Westmoreland County, used his position to plunder the Pennsylvania Occupational Therapy Association's savings account, using it to indulge in lavish personal expenses.
The alleged theft came to light when a financial review at the nonprofit uncovered suspicious bank transactions last year, prompting investigators to launch an inquiry. Fantuzzo, who served as a volunteer treasurer for the organization, allegedly used his access to drain the association's accounts, making purchases such as a new hot tub and paying for vacations to Disney World and the Outer Banks.
In addition to these personal expenses, Fantuzzo also used the nonprofit's money to pay off debts on his own credit cards, accumulating over $100,000 in debt. The treasurer also made unauthorized transactions with the association's credit card, charging more than $128,000 for personal use. Furthermore, some of the funds were transferred directly to Fantuzzo and his wife's PayPal accounts.
The board of directors at the nonprofit discovered the financial irregularities when they questioned Fantuzzo about the organization's troubled finances. In response, he allegedly admitted to draining the savings account for personal expenses.
Fantuzzo turned himself in to authorities on Friday and is now facing charges of theft by deception and related offenses. He was arraigned by a Magisterial District Judge, who set his bail at $100,000. A preliminary hearing is scheduled for February 17.
The association has condemned Fantuzzo's actions, stating that it "was deeply troubling to learn that Mr. Fantuzzo chose to abuse the trust we placed in him with respect to POTA’s financial accounts." The organization has expressed gratitude to the detectives who investigated the case and pledged to continue working with authorities to ensure justice is served.
can't even trust the people in charge with their own money? $246k gone just because some dude wanted a hot tub? 
and credit card debt over $100k? that's wild... i mean, i get it, we all make mistakes, but this is just a huge deal. shouldn't be like that? 
how many other orgs are gonna get hit next? gotta keep an eye on these things...
a 40 yr old guy steals like $246k from a non-profit he's supposed to be helping people... instead he's buying hot tubs and vacations for himself it's just ridiculous how some people can lose sight of what's important 
and now he's facing serious charges and potentially some real time behind bars, hopefully he gets the justice he deserves 
This is just shocking! I mean, I've heard of people being tempted by power or greed, but $246,000? That's just crazy talk 
.
I mean, what kind of person thinks that using non-profit funds is an acceptable way to treat themselves to a little R&R? It's just sickening 
. Anyway, I'm glad he turned himself in and is facing charges - hopefully he gets the justice he deserves 
.
I mean, taking $246k from a nonprofit? That's just insane! 
You could've helped so many people with that money instead of treating yourself like a king 
. Anyway, I hope he gets the help he needs, but also... justice should be served 
- Nelson Mandela
what kind of accountability do you need when it comes to non-profit finances? the fact that he just admitted to it after being questioned by the board is pretty pathetic.
OMG did u no about this guy michael fantuzzo he stole like 246k from a non profit org 
can u believe that kind of trust gets broken 
i'm so sickened by this whole thing 
the assoc is like totally condemning him and trying to get justice served but it's just too sad 
... let's just hope this whole thing doesn't set off a bigger scandal 
.
This whole thing just stinks of cronyism, you know? Like, how did this guy get away with siphoning off nearly $250k from a nonprofit org? I mean, we all know about the 'revolving door' between non-profits and government agencies... does that ring any bells here? 
What kind of treasurer does that? And the worst part is, he's just going to pay off some debt and walk away? No accountability whatsoever 
. I guess you could say they got what they paid for... bad financial management 
Disney World? 
and credit card debt that's just crazy 
and i feel so bad for the ppl who trusted him with their money 
. Another financial scandal like this one just makes me wanna question everything about our non-profit systems. I mean, how easy it was for Fantuzzo to just drain the accounts, make some purchases, and then blame everyone else when he got caught 
.
what's even crazier is that he used it to pay off his own credit card debt 
But seriously, this is just another reminder that even the most seemingly trustworthy people can be hiding some serious skeletons in their closet. 
this is crazy! How can someone just take that much money from a nonprofit? It's like, they're supposed to be helping people, not lining their own pockets 
. Bail's at $100k, hope he doesn't get off easy 
it's just so selfish. And the fact that he used the nonprofit's credit card to pay off his own debts, that's just crazy. I'm glad the detectives were able to catch him in the act and now he's facing serious charges. It's a good reminder for everyone to be careful with finances and to always keep an eye on who's handling your money