Police: Former Fountain Hills HOA bookkeeper accused of stealing $12K

Posted at 1:53 PM, Jan 25, 2017
and last updated 2017-01-25 18:52:56-05

A former home owner's association bookkeeper has been arrested, accused of stealing nearly $12,000 in HOA funds. 

Court records show that a former bookkeeper stole about $12,000 over a 10 month period from the Fontana Master Board Homeowner's Association in Fountain Hills.

Police report that between August 2015 and June 2016, 53-year-old Cheri Lee Klem allegedly took money from the HOA's account and used it for personal use.

Police say Klem made 140 unauthorized transactions, using the funds for groceries, phone bills and casino gambling. 

The discrepancy in the account was found when a former bookkeeper returned and took over the account from Klem. An investigation showed that it was Klem's HOA debit card that was used for the purchases. Klem reportedly admitted to police that she took the money from the HOA and no one else was involved.

She also reportedly told police that she went to the casino hoping to win back and repay the HOA for the money she took. 

Klem was arrested on Jan. 12 at her home in Fountain Hills and is facing charges of theft, forgery and fraudulent use of a credit card.