A prominent Naperville businessman was recently arrested and is facing charges for embezzlement. Long time resident Jerry Feldott is accused of embezzling nearly $26,000 from the North Edgewood Homeowners Association.
Feldott is the President of the Naperville Public Library Board of Trustees and is also a realtor. His real estate office, Feldott & Associates, is contracted to handle the Homeowners Association’s neighborhood common areas.
On February 23rd the association’s president and vice president came to the police after discovering some discrepancies in their books.
“The investigation was then turned over to our investigations unit,” said Sergeant Gregg Bell, Naperville Police Department. “They did some more follow up interviews. Eventually we interviewed Mr. Feldott himself and from there the charges were brought about and an arrest warrant was obtained and Mr. Feldott did turn himself in.”
Feldott has been on the library board for six years. After his arrest he resigned from his position.
“This was a complete shock to us,” said John Spears, Executive Director, Naperville Poublic Library. “His time here on the board was one of tremendous growth for the library. He has been a leader of the community and so much of what the library has accomplished was due to his efforts. Regardless of how this turns out, that’s something I don’t think you’ll ever be able to take away is just his accomplishments and the amount that he has given.”
The board’s vice president will step in as president until their elections in June.
Feldott is free on $500 bond and is scheduled to appear in court on May 14th.
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