(Atlantic) More details have been released on the arrest of former Atlantic Chamber Executive Director Bailey Smith.
According to the complaint and affidavit, between the dates of approximately January 1, 2020, and August 31, 2025, Smith, acting as the Executive Director, conducted approximately 761 personal transactions with Chamber funds for approximately $26,913.22 total loss to the Chamber, $6,632.38 of which Smith admitted in a letter to the Chamber Board. She was charged with Theft 1st Degree for misappropriating funds belonging to the Chamber with a value exceeding $10,000.
Between the dates of approximately November 14, 2022, and August 6, 2025, Smith, acting as the Executive Director, entered into a scheme where she began making transfers between other Atlantic Chamber of Commerce bank accounts to fraudulently make the Chamber general account appear solvent and cover up her theft and to pay bills for the Chamber that should have been paid with the funds that were stolen. Smith was charged with Fraudulent Practice 1st Degree. Smith made approximately 47 bank transfers between the four Chamber bank accounts for a total of $76,215 of money moved in a fraud scheme to cover up her theft of chamber funds, in which Smith admitted in a letter to the Chamber Board to transferring money from the RAGBRAI account, not getting it “moved back where it belonged”, and made a statement that “it should have never been moved in the first place”. Therefore, Smith was charged with Ongoing Criminal Conduct – Unlawful Activity.
Smith conducted approximately 748 personal transactions with credit cards issued to her for Chamber business for approximately $25,065.71 of total loss to the Chamber, $6,632.38 which was admitted in the letter to the Chamber Board. The use of the credit card was unauthorized by any use besides Chamber business and Smith knowingly used the cards for personal, unauthorized activity. Therefore, she was charged with Unauthorized use of a Credit Card over $10,000.
Smith turned herself in on Wednesday and was held in the Cass County Jail on $100,000 cash or surety bond. She posted $10,000 later that day. Smith will appear in court on October 14 at 9:30 a.m.
