When Stephen Jay Carlton, director of the Peninsula Symphony in California was hired in 2009 “at an annual salary of $75,000 plus full medical benefits, the balance sheet for the Symphony at the fiscal year ending June 2009 showed about $500,000 in endowment funds with close to $10,000 in the checking account. On Sept. 20, 2013, when the alleged fraud began to unravel, there was $1,400 in endowment funds and $0 in the checking account.”