A bond hearing for former Coastal Carolina Fair president Dennis Lott was postponed Saturday so that he could undergo a mental evaluation, officials said.

Lott, 57, of Goose Creek, was arrested Friday night by Walterboro Police, accused of stealing nearly $200,000 from the fair.

He was transported to the Cannon Detention Center after failing to surrender to Charleston County sheriff's deputies on a breach of trust charge.

Charleston County Sheriff's Maj. Eric Watson said Lott will appear in bond court after completing a mental evaluation. It was not immediately clear on Saturday when a hearing would likely occur.

An investigation into the missing funds is ongoing.

Sheriff's deputies were notified Thursday about the alleged theft from the fair's accounts.

An incident report identified Lott, last year's fair president, a volunteer position, as a suspect in the embezzlement case. Lott held the position for two years.

In a press conference on Friday, authorities said that the money was discovered missing after a forensic audit conducted by the Exchange Club of Charleston, which runs the fair, uncovered a single check Lott wrote to himself in July and signed for $190,000.

When contacted by The Post and Courier early Friday, Lott would only say he believed the situation would be resolved soon.

According to Berkeley County court records, a foreclosure complaint was filed against Lott in May, about two months before the theft is believed to have occurred. The home in the Crowfield Plantation subdivision was sold in July, court records show.

Lott would not comment on whether the alleged theft and his home's foreclosure were connected.

Reach Christina Elmore at 937-5908 or at Twitter.com/celmorePC.