ACT Policing are investigating an alleged fraud at the not-for-profit Royal National Capital Agricultural Society.
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The society, an entirely volunteer-run agricultural promotion organisation, runs a number of popular Canberra cultural events including the Royal Canberra Show and the National Wine Show of Australia.
Annual reports show the Canberra Show has made between $3 million and $3.5 million each year from 2010 to 2015.
ACT Policing said a fraud matter had been referred to them on February 8 regarding a society staff member.
"Police are currently evaluating the information to determine if any criminal offences occurred," a police spokesperson said.
No charges have been laid and it is not clear what the fraud investigation involves.
A source has told the Canberra Times accounts belonging to the RNCAS had been given to ACT Policing as part of the investigation.
The source also said several members of the society's management committee had resigned with other staff looking for new employment.
Society president Michael Kennedy declined to comment on the investigation or the staff departures.
Mr Kennedy said the society had recently faced a tough time with the death of former chief executive Garry Ashby in 2016.
"Last year was a culmination of a lot of events, we had a significant loss on the show last year," Mr Kennedy said.
"We've been losing money for a long time, probably about eight years, and the other events that we run have either been supporting or propping up the Canberra Show."
"As a not-for-profit organisation we've just got to turn the profit side of it around."
Mr Kennedy said the show made a positive contribution to the ACT, especially with its "royal" title, which held great weight in other agricultural shows worldwide.
He said the society put about 50,000 volunteer hours into the Canberra Show alone.
"It is world class some of the stuff we get through here," he said.
The society is working with the ACT government, local business people and its Sydney-counterpart to help bring it back on track.
The Royal National Capital Agricultural Society promotes agricultural and produce shows in the ACT and surrounding NSW region.
The society is made up of 10 staff members, seven board members, 60 councillors and 1000 volunteers.
