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Adam Sager, 56, of Sarasota, Florida, has been charged with multiple felonies including theft by deception, theft by failure to make required disposition of funds, forgery, and dealing in the proceeds of unlawful activity, according to DA Kevin Steele.
Sager, a licensed Pennsylvania attorney, formerly practiced law in Pottstown. According to his law firm bio, he attended Ursinus College and Widener University Law School, where he was a member of the Law Review. He specialized in criminal law, personal injury, workers’ compensation, social security, and employment law, and was a member of both the Montgomery County and Pennsylvania Bar Associations.
The investigation began in February when board members discovered a $300,000 discrepancy and reported it to Montgomery County Detectives. Prosecutors allege Sager orchestrated the theft in 2019 while serving as both a board member and legal counsel for the Carousel at Pottstown.
On June 28, 2019, Sager was ordered to pay $451,000 in a civil judgment to Total Rental. Just one month later, he secured a $300,000 line of credit in the Carousel foundation’s name without board approval, submitting forged meeting minutes that falsely indicated authorization, authorities said.
The funds were disbursed via a $295,000 cashier’s check to Total Rental and a $5,000 check to a contractor for minor carousel work. By August 2019, the judgment against Sager was marked as satisfied, court documents show.
In September 2019, he solicited a $300,000 donation from a local philanthropist meant for carousel renovations, then used it to pay off the fraudulent loan. The improvements were never made, prosecutors said.
The case is being prosecuted by Assistant District Attorneys Gwendolyn Kull and Robert George.
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