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JPLSU1981
LSU Fan
Baton Rouge
Member since Oct 2005
20674 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
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BATON ROUGE, LA – Our Lady of the Lake issued the following statement today:

“Working with a leading independent third-party financial audit firm, we have recently completed a comprehensive evaluation of fraudulent activities committed by Mr. John Paul Funes and the safeguards we have in place to protect our ministry and the funds we raise through our Foundation.

We’ve identified approximately $810,000 lost due to fraudulent activity committed by Mr. Funes, former president of the Foundation. We will complete replacement of those funds within the next 30 days and will seek restitution from Mr. Funes.

The work by the independent third-party firm has confirmed that Mr. Funes acted alone and was the only member of the organization involved. Over several years, he orchestrated a series of fraudulent transactions that involved the purchase and distribution of gift cards, charter flights and payments to individuals, including forged documents, invoices and signatures. He misled hundreds of people in and outside of our organization.

The forensic investigation also revealed two questionable issues that warranted we notify legal counsel for LSU. Since we are not involved and the outcome does not impact our operations, we will not have any further details or comments on this issue.

Although no system is foolproof, we will do everything we can to ensure this doesn’t happen again. Our donors’ contributions are safe and being used with integrity and responsible purpose. The work we’ve done with the third-party audit has given us a clear roadmap to address the vulnerabilities Mr. Funes exposed. We’ve already begun immediate changes including additional approvals for expenditures and more oversight on adherence to our policies and processes.

We continue to cooperate with law enforcement. We remain shocked and appalled by Mr. Funes’ fraudulent activities and are truly sorry for the harm that he has caused our community.”

Statement from Julio Melara, Chairman of the Our Lady of the Lake Foundation and Member of the Our Lady of the Lake Board - "The results of the third-party investigation have provided our ministry with the answers to how we fell victim to Mr. Funes' pattern of deception and offer a clear path forward to make sure this never happens again. Mr. Funes acted alone and abused the trust he had gained over nearly two decades.

We remain grateful for your continued prayers and devotion to our Foundation and the Sisters’ ministry in Louisiana.”

Statement from K. Scott Wester, Our Lady of the Lake President & CEO - “The situation that occurred in our Foundation has hurt so many people and we’ve been working to understand the details in order to put things right and move forward. My promise is integrity for everyone in the community and the organization to ensure the contributions to our ministry are protected and safe and going toward the good work that our donors trust and expect


LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
14011 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

How come when one of these guys steals $800k he doesn't just give it to me?


Are you 6'9" and can hit a jumper from 22 feet?


Booyow
Member since Mar 2010
250 posts
 Online 

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Welp, see ya later LSU Athletics


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283
sweetwaterbilly
South Alabama Fan
Baton Rouge, LA
Member since Mar 2017
7853 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Well I WAS on the first page.. damn


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140
NawlinsTiger9
New Orleans Saints Fan
Where the mongooses roam
Member since Jan 2009
20308 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
We are so fricked


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112
Draconian Sanctions
LSU Fan
Markey's bar
Member since Oct 2008
67564 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Goodness gracious we have some chicken littles on here


Drunken Crawfish
USA Fan
Crushing 'skis at Tobin's house
Member since Apr 2017
1728 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
So was it just two instances? On the surface that seems a bit less concerning


1999
Miss. Valley St. Fan
Where I be
Member since Oct 2009
20405 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Game over


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103
Veritas
George Washington Fan
Northern Virginia
Member since Feb 2005
3483 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Just please don’t have anything to do with LSU football.


CBandits82
Lurker since May 2008
Member since May 2012
35534 posts
 Online 

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

Upperdecker



quote:

frick we’re done



I cant believe this shite.


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NawlinsTiger9
New Orleans Saints Fan
Where the mongooses roam
Member since Jan 2009
20308 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

Over several years, he orchestrated a series of fraudulent transactions that involved the purchase and distribution of gift cards, charter flights and payments to individuals, including forged documents, invoices and signatures.


Oh boy.


wesman21
LSU Fan
Youngsville
Member since Jun 2009
1491 posts
 Online 

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

Are you 6'9" and can hit a jumper from 22 feet?


The only correct answer.


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11
TigerNAtux
LSU Fan
Louisiana
Member since Dec 2007
11769 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
I’m so confused. Not sure which panic I should give in to.


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130
saintsfan22
New Orleans Pelicans Fan
baton rouge
Member since May 2006
48437 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
At least we have competent leadership to navigate us through these troubled times.


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540
EZE Tiger Fan
Member since Jul 2004
35815 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Funes a bag man?


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240
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
14011 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

Over several years, he orchestrated a series of fraudulent transactions that involved the purchase and distribution of gift cards, charter flights and payments to individuals,


That's, uhm, not good


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250
Tigercowboy
New Orleans Saints Fan
Baton Rouge
Member since Nov 2007
1654 posts
 Online 

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
It may only be two instances but damn how much money moved in those two instances is the big question and where did it go?


Gray Tiger
LSU Fan
Prairieville, LA
Member since Jan 2004
31240 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
quote:

#JoeMustGo


Where does it implicate Joe in this statement?



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819
GeauxxxTigers23
USA Fan
TeamBunt General Manager
Member since Apr 2013
54539 posts
 Online 

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
lsu already knew about it and they aren’t major infractions. It’s already been reported to the ncaa and has nothing to do with Will wade. The lsu stuff is not recent.


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2312
SammyTiger
LSU Fan
New Orleans, LA
Member since Feb 2009
32083 posts

re: LSU notified as OLOL reveals $810K lost in foundation head's alleged embezzlement.
Honestly, it sounds like this guy was stealing money. Doesn’t sound like he was using OLOL as a money laundering scheme.

I an Sure some of that money made it to LSU, but “two questionable issues” is a far cry from “LSU stollenallnoir money for players”


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