From the Boston Herald
A 58-year-old Maine man accused of embezzling more than $1 million from within the secretive headquarters of the Massachusetts Grand Lodge of Masons is scheduled to be arraigned today in Suffolk Superior Court.
Vincent Paul Reed Jr. of Shapleigh, Maine, spent $1.25 million in Mason funds on personal travel expenses, household pets, utilities and credit card debt, prosecutors said.
The theft is alleged to have taken place from 2001 to 2008 — while Reed served as elected treasurer of the Boston Council of Royal Select Master Masons and the St. Paul’s chapter of the Royal Arch Masons, said Jake Wark, spokesman for Suffolk District Attorney Daniel Conley.
The investigation was said to of begun in 2008 when a lodge member discovered irregularities in the accounting.
Vincent Paul Reed Jr has pleaded not guilty to the charges that he transferred more than $1 million from the secretive organization into his personal accounts to pay for shopping sprees, exotic trips and lavish dinners.
As quoted int he Boston Herald on May 11th, Reed was able to get away with it without any real oversight.
“All of these expenses are despite the fact that the two Mason organizations had no cars, no pets, no known credit cards and no need to shop,”
“Reed was a popular personality and held elaborate parties for the Masons. He was a gregarious and well-liked member and operated without oversight.”
Read the full articles Freemason charged in $1M embezzlement. and Former Masons treasurer pleads not guilty to $1M grab
Thankfully, a Grand Lodge spokesman said Reed “was booted as soon as financial improprieties were discovered.”
In my 30+ years as a CPA I don’t know how many times I have spoken about, suggested, and in some cases pleaded organizations to adopt some simple internal accounting controls. The most common sin of volunteer organizations is allowing one individual to control every aspect of the financial management without some type of oversight. Just because it is a Masonic organization does not excuse the officers of their obligations as stewards of someone else’s funds. I have a one-page document of some simple controls that I would be happy to email to anyone. Send me an email at mdc@mdc-cpa.com.
Michael D. Clevenger, PM
New England Lodge #4
Worthington Ohio
Freemasons claim that Freemasonry is a system of morality based on allegory.
Good and bad people are everywhere and Freemasonry is no exception.
The Freemason referred to disregarded his charges and obligations and exposed himself to censure.
Abdul Wahid Osman Belal