The owners of Rathbun Property Management want to know where their million dollars has gone.
A huge discrepancy the company’s trust account was discovered Friday during an annual audit. Trust accounts are used to keep tenant deposits and rent payments separate from operating capital. The company manages 800 rental homes in Tucson.
Bette Rathbun, president and co-owner of the company, said only she, her husband and one longtime employee had access to the trust account.
That longtime employee “ran out the door at the beginning of the audit and hasn’t been heard from since and won’t answer her phone,” said Rathbun, who founded Rathbun Realty Inc. in 1974.
Rathbun and her husband, broker and co-owner George Glover, filed a report with the Tucson Police Department.
“It’s in the detectives hands now. They are still in the preliminary portions of the investigation,” said Sgt. Chris Widmer, a TPD spokesman.
In an email to property owners Tuesday, Rathbun and Glover said the FBI and the Arizona Department of Real Estate were investigating as well.