Nearly Half a Million Missing from Hospitality Assoc.

COLUMBIA, S.C. (WOLO) — Officials with the South Carolina Hospitality Association say the results of an independent audit are ‘shocking, sickening and inexcusable’ as it was discovered that $480,944.93 went missing from the Association from 2009 to 2011. An internal audit by the Hobbs Group here in Columbia, found the misappropriation of funds, revealed Thursday to members of the media. Officials say late President of the South Carolina Hospitality Association, Tom Sponseller, and treasurer, Rachel Duncan, were the only two responsible for reporting finances during board meetings. While auditors ‘have not discovered any direct evidence implicating Tom Sponseller,’ Chairman, Rick Erwin says, ‘Tom should have known.’ Sponseller’s body was found in room in the parking garage of the Association, February 27, 2012, ten days after he was reported missing by his family. Richland County Coroner, Gary Watts says Sponseller died from an apparent self-inflicted gun shot wound to the head. A suicide note left behind referenced his disappointment that thousands of dollars went missing from the organization. The Association plans to implement several protocol changes into how its books are kept, including no longer allowing employees to perform certain fiscal duties. The audit results have been turned over to federal investigators. It is unclear if Rachel Duncan will be charged.