Accountant charged in Libertyville Boys Club theft

A well known accountant who volunteered his time to the Libertyville Boys Club has been charged with felony theft for writing nearly $67,000 in checks to himself, police said.

Christopher L. Jacobsen, 43, of the 600 block of Meadow Lane, surrendered to Libertyville police Friday on a warrant for his arrest and was released after posting 10 percent of a $50,000 bond. Jacobsen could not be reached for comment.

An e-mail blast with the news was to have been sent Friday night to about 600 participants in the 77-year-old club, which sponsors the youth football program and cheerleading at Butler Lake Park, club officials said.

Though events that led to the charges have unfolded since last spring, the situation remained startling to Boys Club officials.

“We knew him personally over the years. He had an excellent track record. Board members could not believe this was happening,” said Rich Danilkowicz, board chairman.

A self-employed CPA, Jacobsen had volunteered as club treasurer since early 2009. He had the exclusive power to collect all monies and pay all bills related to the program, police said.

Last spring, board members became suspicious of Jacobsen after he refused to bring the financial records to the monthly meetings.

“He said, `I was very busy,' It got chronic,” Danilkowicz said. “He was in the program for a number of years — a coach. He was a trusted CPA in town. We had no reason to doubt him.”

In October, the board of directors voted to demand possession of all the records and Jacobsen eventually had them returned, Danilkowicz said.

An outside accounting firm was hired to perform an audit. It showed Jacobsen had written “numerous” checks to himself and cashed them for a total of $66,700, according to police. But the reason hasn't been explained.

“He didn't offer a statement to us,” said Libertyville Police Lt. Scott Fabbri.

“We'd like to know,” Danilkowicz said.

The club has an annual budget of about $100,000. Danilkowicz said day to day operations would not be affected.

The treasurer position has been eliminated and an outside firm will handle the books.

A court date for Jacobsen has been set for Jan. 25.