From NOLA.COM:
An internal review by the board of directors of the community organization ACORN determined that the amount allegedly embezzled from the community organization was $5 million, well more than the previously reported amount of nearly $1 million, according to a new subpoena in an investigation by Louisiana Attorney General Buddy Caldwell.The subpoena, released this afternoon, says, “It is still unclear if some of the monies embezzled are from state, federal or private funds.”
Caldwell issued subpoenas in August seeking documents related to Acorn International then-President Wade Rathke and his brother Dale Rathke, who kept the group’s books. Those subpoenas were focused on possible Acorn violations of state employee tax law, obstructing justice and violating the Employee Retirement Security Act.
Whole blockbuster story here.
Update: According to the new subpoena issued by the Louisiana Attorney General, it seems ACORN leadership was aware of the full extent of the embezzlement. That they have covered up the true figure cast doubt on their ability to truely reform the organization. In other words, they will only admit to what they get caught at.
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