Sept. 25, 2012 — Terri C. Alderman, 48, of Wallingford, was indicted Friday for theft by unlawful taking over $10,000 after a three-month investigation by Kentucky State Police.
She is the former executive director of the Morehead Tourism Commission and Morehead Tomorrow, Inc.
Alderman was investigated after the two organizations discovered what appeared to be misappropriation of funds from Morehead Tomorrow, Inc.
She resigned her position on June 20 after being confronted about the missing funds.
The indictment alleges that between July 1, 2004, and June 30, 2012, Alderman took cash from the Morehead Tomorrow program totaling $74,212.
In a joint statement, Morehead Mayor David Perkins, Morehead Tomorrow Board Chair Robin Mirus and Tourism Chair Keith Kappes said they intend to recover all of the missing money and that they expect Alderman to be held fully accountable by Kentucky’s judicial system.
“It was determined that the allegations against Ms. Alderman do not involve any funds of the Morehead Tourism Commission,” the officials said.
The statement closed with following:
“Morehead Tomorrow, Inc. will continue its efforts to enhance downtown Morehead by sponsoring successful events like the Arts and Eats Festival and Hometown Holiday and to improve the downtown environment with physical changes such as the Streetscape projects on Main and First streets.”
Alderman is scheduled to appear in Rowan Circuit Court on Oct. 5.
Theft by unlawful taking over $10,000 is a Class C felony which carries a penalty of 5 to10 years in prison.
The indictment of a person by a grand jury is an accusation only and that person is presumed innocent unless or until proven guilty.
Kim Bandura can be reached at email@example.com or by telephone at 784-4116.