An arrest warrant has been issued for a man who authorities said stole $300,000 from a nonprofit in Montgomery County.
Adam Sager, 56, a resident of Sarasota, Florida, has been charged with numerous felony counts after allegedly stealing funds from the Carousel at Pottstown, a nonprofit foundation that oversees the historic carousel, the Montgomery County District Attorney's Office announced in a news release.
Officials said that in February 2025, Carousel at Pottstown board members and administrators went to the authorities after discovering $300,000 embezzlement.
After an investigation, officials said Montgomery County detectives found that Sager, a former board member and attorney for the nonprofit, committed the theft in 2019.
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Officials said detectives learned that on June 28, 2019, a judgment in a civil action ordered Sager and a co-defendant to pay Total Rental $451,000. Around the same time, the Carousel at Pottstown board approved an extensive renovation of the Carousel and decided to seek private donations to finance the improvements.
According to officials, Sager volunteered to contact local philanthropist Barry Sankey for a donation to finance the renovations. At the same time, he arranged for a $300,000 line of credit loan for the Carousel non-profit foundation, with him as the only designated signer.
To receive the loan, officials said Sager submitted fraudulent Carousel board minutes as evidence that the board had approved the loan.
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"The loan was disbursed on July 29, 2019, via a $295,000 cashier’s check payable to Total Rental and a $5,000 check to a builder hired to construct a small patio. On Aug. 16, 2019, the Court marked the judgment against Sager as satisfied. In September 2019, Sankey issued a $300,000 check to “Carousel at Pottstown,” which Sager used to pay off the line of credit loan he took out in July," officials shared in the news release.
According to officials, this theft caused the Carousel at Pottstown to suffer a loss of $300,000.
Sager has now been charged with multiple felony counts of theft deception, theft by failing to make required dispositions, forgery, and dealing in the proceeds of unlawful activity, officials shared.
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