CARLSBAD, N.M.—Carlsbad police have yet to identify any suspects as they investigate the possible embezzlement of funds from a youth soccer organization.

The Carlsbad Current-Argus reports (http://bit.ly/1bn8aq1) board members of the Carlsbad Soccer League told officers earlier this month that league accounts showed a significant decrease in funds.

Investigators suspect the embezzlement has been ongoing since December. That's when the league recorded a surplus of funds for the 2012 season.

A criminal complaint states that the league's surplus funds, credit card, concession stand proceeds and current year registration fees may have been part of the embezzled funds.

The exact amount of missing funds has yet to be determined, but police say they are continuing to investigate.

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Information from: Carlsbad Current-Argus, http://www.currentargus.com/