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An investigation into alleged embezzlement at Creston Automotive is underway.
And, court documents show Lyndsay Huntsman, 44, of Creston is the source of this investigation by Creston Police Department and Department of Criminal Investigation agents.
Huntsman has been office manager at the dealership since 2006. However, she was let go from her position this week after discrepancies were found within the companies financial records.
Discovery
On Oct. 17, an employee at Creston Automotive questioned another employee as to why a cash drawer was left out the previous business day, court documents show.
The employee was informed Huntsman had taken $500 in cash to deposit into the company’s business account on the way out of town. It was assumed she left the drawer out. However, it was later determined the $500 was not deposited, court documents show.
On Oct. 23, Creston police were notified by Creston Automotive of suspicious and fraudulent activity pertaining to their business account.
Court records state the company’s business bank account was opened in 2006 and had daily deposits of cash Monday through Friday, except on rare occasions. The pattern continued through July 2008.
After July 2008, the bank reported the cash deposits started to reduce drastically. Despite being trained and instructed to make daily bank deposits, court documents state less than 50 cash deposits were made per year, each year, from 2010 to 2014.
Court records show Huntsman had sole control of the company’s financial account and was responsible for their financial books, reports and making daily bank deposits from 2006 through mid-October 2014.
Examples
Records reveal a vehicle was sold at Creston Automotive on Feb. 17, 2010, for $8,524.50. The buyer paid $5,000 cash and wrote a check for the remaining balance.
However, the cash from this transaction was never deposited into the company’s business account according to the court documents. An employee from Creston Automotive recalled this specific transaction because the vehicle was sold to a friend.
Additionally, court records state the cash down payment or vehicle loan payoff amounts provided to the dealership for the purchase of personal vehicles registered to Huntsman and her husband Jeffrey Huntsman have not been deposited into the business account.
Court records show three Ford vehicles registered to the Huntsmans.
Investigation
Special Agent in Charge Mike Motsinger of Iowa Division of Criminal Investigation said subpoenas for financial records have been served and with “white collar crimes” like this, it takes time to gather all of the evidence. Court records show a number of items and records, both paper and electronics have been recovered from Creston Automotive and the Huntsman residence, 707 N. Oak St., and entered into evidence.
No arrests have been made.
“Right now we are just interviewing everybody,” Motsinger said.
When asked if Jeffrey Huntsman is also under investigation, Motsinger was not specific.
“We can’t rule anyone out or anyone in,” Motsinger said. “We’re just starting this investigation and getting that information will take some time.”
A loss estimate cannot be determined at this time.
Rick Benson, owner of Creston Automotive, declined to comment on Huntsman or the investigation at this time. The News Advertiser will have more details as they become available.