Former Hanover Soccer Club treasurer pleads guilty to stealing $750K
Updated, July 9:
David W. Wells pleaded guilty through a plea agreement to theft by failure to make required deposit of funds. All of his other charges were withdrawn, according to online court documents.
He was sentenced to 20 years probation and must pay costs, fines and restitution.
Wells has to immediately pay $40,000 and he has to 40 percent of his net income monthly, documents state.
He also cannot hold a financial position for a club or employment. Wells also cannot enter the Hanover soccer field.
Once the costs and fines are paid in full after 10 years his probation will be terminated, documents state.
Previously reported, May 2017:
A former treasurer for the Hanover Soccer Club and Southwest Youth Lacrosse Club has been charged with stealing funds from both organizations and from Counsel Trust, Wells' former employer.
David W. Wells, 48, of Penn Township, allegedly took a total of $758,001.19 to make several mortgage payments and credit card payments, and to write checks to himself, according to an affidavit filed with District Judge Dwayne Dubs.
The affidavit says Hanover Borough Police investigated once it was determined that Wells' bank was in the borough.
Read: Soccer club treasurer accused of misusing funds
The soccer club president told police he received a call when the president of Counsel Trust, an investment advisory firm, said that Wells made several unauthorized deposits from its clients to the Hanover Soccer Club bank account, police said in the affidavit.
The soccer club president met with Wells in December 2016 in order to change the account user names. Prior to that, Wells was the only person who had access to the club's bank accounts, the affidavit states.
On Jan. 5, the soccer club released information on its website about Wells allegedly misusing funds.
Police learned that Wells also was the treasurer for Southwest Youth Lacrosse Club. The new lacrosse club president looked into their records and discovered Wells had issued several cash withdrawals to himself and made credit card payments from their account, police said in the affidavit.
Investigators discovered that Wells took $23,681.44 from the lacrosse club, $129,600 from Counsel Trust and $604,719.75 from the soccer club, the affidavit states.
He was charged with theft by unlawful taking, receiving stolen property and unauthorized access to a device, according to online court documents.
Wells was released on his own recognizance on May 3 and has a preliminary hearing scheduled for May 23, documents state.
Wells and his attorney could not be reached for comment.