Rockport businessman accused of stealing $3.8M
A Rockport business owner is being sued for allegedly stealing $3.8 million from United Mid-Coast Charities when he served as the group’s president.
The Bangor Daily News reported that the charity group filed a lawsuit in Knox County Superior Court against Russell “Rusty” Brace, the founder and owner of Brace Management Group. He served as the charity's volunteer president from 1997 to Aug. 21 this year. Brace, who was once named Townsperson of the Year by the Camden-Rockport-Lincolnville Chamber of Commerce, owns an office building at 21 Elm St. in Camden.
The lawsuit against Brace alleges that he stole $3.8 million from the charity since 2001. Most recently, Brace allegedly received $75,000 in donations from a single donor and deposited the checks into a bank where the charity had no account.
No criminal charges have been made against Brace, but the charity’s current president indicated that law enforcement authorities have been contacted.
Correction: The story has been updated to reflect that Brace lives in Rockport.
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