The purpose of this email is to make you aware of some recent unfortunate events related to Old West End Security.
Late last month, we discovered some irregularities regarding our account statements. We began an immediate investigation and determined that a board member, Nabeel Jabarin, had been misappropriating funds. We confronted the Nabeel Jabarin, who acknowledged the theft, and removed the him from the organization. The board filed a police report and has arranged for restitution. We have also implemented new checks and balances to ensure that the situation will not reoccur.
Fortunately, the amount in question was relatively small so it will not affect our viability and we will obtain full restitution. Nonetheless, it happened, and the board firmly believes our members have a right to know. We take very seriously our fiduciary obligations to our members. We will use this experience as an important reminder of the need for strong internal controls and will continue to strengthen and protect our organization.
We will be happy to answer any questions you may have.
The Old West End Security Board