An audit of New England Synod finances was unable to account for $740,000 in endowment funds, Bishop Robert L. Isaksen told synod members at the end of May.
Synod officials asked authorities in Connecticut to determine what happened to the money that had been in the charge of synod treasurer George A. Patrick of Cheshire, Conn.
Synod attorney Bradford E. Cook told The Hartford Courant that no one has been accused of embezzlement. He said that a Middlebury, Conn., auditing firm found checks totaling $740,000 written to "First Cheshire Investment Associates" but were unable to verify the existence of First Cheshire.
In a May 24 letter to synod leaders Isaksen said he and other church officials are cooperating fully in investigations "which will conti nue until the status and location of all funds are explained fully."
The handling of the synod's finances had been under review since the treasurer's office was moved from Connecticut in December, when Patrick resigned as treasurer after 13 years.
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