FSU Booster Club missing money

Oct 1, 2014, 11:48 PM

FSU booster group investigating fired booster for missing $500,000-$700,000

Posted by Kevin McGuire on October 1, 2014, 11:14 PM EDT
Clemson v Florida State
The Seminole Boosters fired comptroller Sanford Lovingood on Wednesday after being accused og misappropriating somewhere between a reported $500,000 and $700,000. There is no connection to Florida State’s football program at this time, but this may be a story worth keeping an eye on with an investigation opening to attempt to track down where those funds went.

According to a statement released by the booster organization for Florida State athletics, the missing funds were discovered in a review of banking records Wednesday and the boosters are working to resolve the matter. A forensic audit is already getting started to determine how the funds were taken out of the organization’s coffers and what happened with them.

The booster organization says it has updated the university administration, Board of Trustees, athletics department and more about the unsettling news and will update accordingly. Lovingood apparently turned himself over to Leon Country Sheriff’s Office and is cooperating with law enforcement.

“We will aggressively pursue recovery of the funds and are confident they will be restored,” said Mike Harrell, chairman of the Seminole Boosters Board of Directors. “We take our fiscal responsibilities very seriously.”

It is important to state once again, at this time there is no documented connection to the Florida State football program. If it is discovered Florida State players accepted payments from Lovingood or any other boosters, then we would be looking at the possibility of NCAA involvement and potential sanctions or vacated wins, but that is not the case now. It may be possible Lovingood simply took the money for himself for all we know right now. For the time being, you may just want to keep an eye on the developments regarding this case.