After Financial Turmoil, Peabody Youth Football Players Try To Rebuild, Raise Funds

PEABODY (CBS) - After a financial scandal, players with the Peabody Youth Football & Cheering League will begin the rebuilding process with fundraising efforts on Saturday.

Players will be fanned out all over the city to collect cash because the program is in "dire need of immediate funds," according to an online announcement of the fundraising activity.

As the WBZ I-Team first reported, the league's board of directors resigned early this month and its financial records were turned over to police.

The developments came after a WBZ I-Team investigation uncovered thousands of dollars in questionable expenses.

Peabody's league president, Jacqui Pence, had refused to provide any answers about the discrepancies.

After the initial WBZ report, Pence sent a letter to parents that acknowledged the problems but still did not shed any light on the growing controversy.

The league's bank account reportedly only had a balance of $1,000, roughly the cost of paying referees for a weekend of games. Registration fees from football players and cheerleaders should have generated about $50,000 at the beginning of the season.

A group of parents will now act as trustees to maintain solvency through the rest of the season. They will eventually be tasked with electing a new board of directors.

Chief Thomas Griffin told WBZ-TV his department's investigation is ongoing.

Ryan Kath can be reached at rkath@cbs.com. You can follow him on Twitter or connect on Facebook.