Warrant issued for man suspected of embezzling thousands of bonus dollars from Chalmers

RIO RANCHO — On Feb. 13, the Rio Rancho Police Department issued a warrant for a man suspected of embezzlement at Rio Rancho’s Don Chalmers Ford.

Mark Romero, 52, of Albuquerque, has a warrant out for his arrest for embezzlement and forgery.

According to an affidavit for arrest warrant, the embezzlement and forgery took place over almost a year between October 2023 and September 2024.

Ford administration launched an internal investigation into the matter that revealed significant and ongoing theft from the accounting department, amounting to approximately $64,000. The money in question was “spiff” money, or incentive bonuses awarded to employees for meeting sales goals. The bonuses were distributed weekly with the expectation that any unspent cash be returned to the bank.

The discrepancies in the accounting records came up in Chalmers’ audit report. Cash disbursements of $6,000 per week were normal for the spiff program, but after that significant amounts were unaccounted for. According to the warrant, $10,860 went unrecorded in one month.

Suspicion fell on Romero, who took over the spiffs program as a human resources employee.

He reportedly had direct access to the safe where cash was stored and was responsible for making the payouts. The routine involved Romero cashing a $6,000 check and depositing the cash into the safe. The sales manager would then distribute the bonuses from a “cash bag” throughout the week. Then a receipt would be filled out and the cash put back in the bank. During the audit, it was discovered the remaining funds weren’t being deposited back into the bank and Romero’s records did not match the amount in the bank.

Police note the discrepancies were concealed through manipulated journal entries by Romero.

It is also noted that Romero’s behavior changed during this time, and when he was asked for documentation related to the cash disbursements, he suddenly quit in September, raising suspicions.

Through the investigation officers found that Romero had also manipulated his own benefits. He discontinued health insurance, which saved him approximately $200 per month. His bank records also showed consistent deposits over the year totaling at $73,476.

A second look at his bank records showed the deposits significantly dropped when he quit.

Video surveillance at the bank showed Romero was the one making the deposits with a bag that matched the description of the Chalmers money bag.

When officers called Romero, he was informed that he was being investigated for the embezzlement and forgery. Officers requested he come down to the department for an interview. Romero said he was “flabbergasted by the accusation” and denied taking any money.

He said he was in Canada for work for a month and would not be able to come in for an interview.

Embezzlement over the amount of $20,000 can result in more than nine years in jail. Forgery can result in 10-plus years with fines.