Fraud Suspected in Atlanta Arts Center’s $1.4-Million Loss

Atlanta’s Woodruff Arts Center said Tuesday that an employee submitting phony invoices is believed to have cost the nonprofit venue $1.44-million over five years, the Atlanta Journal-Constitution writes. The nonprofit center, the city’s largest cultural organization, did not name the suspect but said the results of an internal investigation have been turned over to prosecutors.

Woodruff officials said the alleged embezzlement was discovered in October after the eight-year staff member resigned for reasons unrelated to the missing money. The center, which posted a $2.165-million deficit for fiscal year 2012, oversees the Atlanta Symphony Orchestra, the Alliance Theatre, and other culture entities.

Board Chairman Larry Gellerstedt said the alleged theft represents a fraction of the center’s $100-million in annual revenue and does not put the center or its program at risk, “other than the most important part, which is our credibility with our supporters.”

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