Former Alberta Main Street president pleads not guilty to stealing from nonprofit
PORTLAND, Ore. (KOIN) — The former leader of a nonprofit established to support businesses on Portland’s Northeast Alberta Street has been accused of stealing from the organization.
On Wednesday, former Alberta Main Street president Devon Horace pleaded not guilty to four counts of first-degree aggravated theft, five counts of first-degree theft and seven counts of falsifying business records.
The 31-year-old man was initially indicted by the Multnomah County Circuit Court on Apr. 2.
The probable cause affidavit alleged Horace stole at least $100,000 from the organization during his tenure as president from July 2021 to January 2023.
The Portland Business Journal reported he previously worked for Nike and the Portland Trail Blazers, two groups that donated $100,000 and $5,000 to Alberta Main Street, respectively.
Court documents show that Horace hid these donations from the nonprofit, withdrawing the money on the same day that it was received and paying himself $85,000 through several transactions.
Additionally, the defendant told the AMS Board that its loan from the Paycheck Protection Program would be partially repaid with $7,000 that was withdrawn from the organization’s bank account. But according to the documents, the loan had been fully forgiven and the former president withdrew the money for his own benefit.
Multnomah County Deputy District Attorney Chidimma Mgbadigha’s investigation also found that Horace withdrew thousands of dollars from Umpqua Bank on multiple occasions, “for no legitimate business purpose."
The attorney alleged the former AMS leader concealed his crimes by showing the organization’s treasurer fraudulent bank documents.
“Given the sophistication and breadth of the scams, combined with how quickly the defendant spent the proceeds in this case, the State is concerned that he could be further victimizing other community members and committing fraud,” Mgbadigha wrote.
Horace’s next court appearance is scheduled for Wednesday, June 12. He has been permitted to reside in Seattle until then.
KOIN 6 has reached out to Horace's attorney and AMS for comment.