INDIANAPOLIS (AP) – Police are investigating the theft of $380,000 from an arts group that stages one of Indianapolis’ best-known art fairs and also grants money to local arts groups.
The theft from the Penrod Society amounted to all of the group’s revenue and its reserve funds. Members of the 42-year-old all-volunteer arts society believe the crime was an inside job.
Penrod Society President Jimmy Art says the theft has devastated the group, which stages the Penrod Arts Fair each September on the grounds of the Indianapolis Museum of Art.
Penrod member David McGimpsey says the theft came to light in late November when the lawyer for another volunteer called Penrod officials to inform them his client had taken the money.
Penrod members would not confirm the volunteer’s identity because no criminal charges have been filed.
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Information from: The Indianapolis Star, http://www.indystar.com
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AP-CS-01-01-09 1710EST