A year after Coquitlam Little League’s All-Star team won the Canadian championship and went on to compete at the famed Little League World Series in Williamsport, Penn., the organization faces financial ruin.
In a message sent to parents on Friday, Coquitlam Little League president Sandon Fraser said more than $226,000 has gone missing from its bank account. He said the discovery was made when the organization started getting enquiries about refunds for the cancelled season that should have been sent out between May 12 and June 26.
Like every other local sports organization, Coquitlam Little League called off its season last spring because of the COVID-19 pandemic.
Fraser said an investigation revealed the league’s bank account totals less than $3,000 instead of the $229,971.31 its financial records said should be there.
“This is a devastating situation for all us,” Fraser said, adding the organization has unpaid invoices owed to suppliers.
He said Coquitlam RCMP have been alerted, and an independent accounting firm is examining the league’s books.
“We don’t have all the facts at this stage of the investigation,” he said.
Meanwhile, the league won’t be able to make good on its commitment to issue refunds for the cancelled seasonal at this time, Fraser added.
Further information will be provided to parents at a virtual conference to be held Aug. 22 at 10 a.m.