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Naperville library board president, businessman accused of embezzlement

A prominent Naperville civic leader and real estate agent is accused of embezzling nearly $26,000 from a homeowners’ association in the western suburb.

Jerome L. “Jerry” Feldott, president of the Naperville Public Library Board of Trustees and a member of one of the city’s founding farm families, faces trial on a felony charge of theft or unauthorized control of over more than $10,000 but less than $100,000, according to records on file in DuPage County Circuit Court in Wheaton.

Feldott, 63, of the 1000 block of Benton Avenue near downtown Naperville, is president of Feldott & Associates Ltd., and works as a real estate agent and property manager.

Members of the Naperville Police Department’s Investigations Unit on Feb. 23 launched a probe of Feldott’s alleged activities, police Sgt. Gregg Bell said Monday.

Police were approached by the president and vice president of the North Edgewood Homeowners Association, Bell said. They filed a police report over “some discrepancies in an account they have” that was overseen by Feldott, Bell said.

Feldott & Associates had been contracted to provide management of the association’s common areas, Bell said. Feldott was paid $3,000 annually to collect homeowner dues and pay the association’s bills, he said.

A $1,100 “discrepancy” was discovered last year in an association account, Bell said. Police soon after subpoenaed the association’s books and records and interviewed Feldott.

Bell, while refusing to reveal what Feldott said during the interview, said investigators “determined he was embezzling money from that account.”

Feldott is accused of taking “over $25,900” from the association since 2007, Bell said. Feldott “did try to repay just under $6,000, but in spite of all of that, the homeowners’ association elected to go ahead and press charges” against him, Bell said.

Feldott could not be immediately reached late Monday afternoon at his home for comment on the allegations.

A biographical sketch of Feldott that appears on the Naperville Public Library website indicated Feldott & Associates “specializes in residential and commercial sales as well as property management and home property management. Feldott has over 10 years experience in building million-dollar homes (and) over 25 years in selling real estate ...”

“As a native of Naperville, Feldott is strongly involved in the leadership roles in many community organizations, including Rotary Club of Naperville; past president of Naperville Rotary Charities; board member and chairman of Citizen’s Appreciate Police and Fire Departments (CAPS), and past president of the Wheatland Plowing Match Association,” according to the biography. “Feldott’s family has been in Naperville since 1852, and they are a Founding Farm Family of Naperville.”

Feldott is free on $500 bond.

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