REVEALED: GOLF CLUB SCAMMED OF $100K

Probe into alleged $100,000 hole in golf club funds

AN alleged cash-skimming operation that pinched more than $100,000 from a Geelong golf club is being investigated by police.

The Barwon Valley Golf Club wrote to members this month to inform them the club had received $103,000 — minus a $5000 retention — from insurers, following investigations into the alleged fraud between September 2015 and July 2018.

The letter noted the “possible discrepancy” with club revenue was identified in late 2018, with insurer AIG bringing in Crawford Accountants to examine the alleged fraud.

“It is alleged the discrepancies involved cash skimming (fraud) by a former staff member(s),” the letter notes.

Club treasurer Nathan Sharrock said it was understood one or more former staff members would close the till off early in the afternoon and skim excess cash from the top at the end of the day.

“For example, if you close the till at $1000, and at that point in time there was $500 each in cash and Eftpos, then by the end of the day there was $800 in Eftpos then they would match up to the $1000 for the day and you’d only bank $200 cash — leaving them with $300,” Mr Sharrock said.

The club only investigated the 35-month period as its management liability policy with AIG only came into effect in September 2015.

Mr Sharrock said it would be very coincidental if the skimming had not gone on for a period before that time, with the club letter suggesting it had gone on for “an extended period not covered by the report”.

“I would find it funny if it didn’t start before that,” Mr Sharrock said. “It’s frightening to think about.”

Crawford’s six-month probe into the potential cash fraud found between about $2500 and $2900 was taken each month during the period.

“AIG agreed to indemnify BVGC for the alleged fraud and pay $103,000, minus $5000 retention,” the club letter to members noted.

“Matters have been passed on to Victoria Police.”

Mr Sharrock said the club would use the insurance funds on renovations, and admitted it was disappointing to think of what the club could have done with the allegedly stolen money.

“We’re looking at potential renovations of the clubhouse in the future … and renovations of the course itself,” he said. “Obviously there’s a bit of a stigma over Barwon Valley and its course condition, and while we’ve improved incredibly over the last 10 years, it’s unfortunate what we could potentially be.

“It could have been improved years ago, so it’s a shame what could have happened if this had of been found out earlier.”