"So far, we haven't found anything where people didn't get the services they paid for, it's just that the money didn't go where it was supposed to go in the end," Kimpel said.
Officers said they also believe that Holycross may have been paid to recommend a certain monument company to customers.
"If (a customer) purchases the monument there, the company was giving him a percentage back, which is illegal," Kimpel said.
Investigators said no charges have been filed at this time, but because Holycross is considered a public official, he could be facing charges of theft in office. Kimpel said investigators will take any evidence directly to a Champaign County grand jury.
Holycross declined to comment. He is on administrative leave pending the outcome of the investigation.
Kimpel asks that anyone who may have paid Holycross directly for services by cash or check to contact the Urbana Police Division.