The investigation looked into a series of cheques issued over the past two years from funds set up to help First Nation's members with emergencies such as rent, travel to funerals, or clothing.
But a third-party investigation concluded that almost $1.5 million was distributed with few records of how it was spent or why.
Most of that money was handled by Krissy Jacobs, the Squamish Nation's former manager of communications and band services, who was removed from her position in September.
The band says she kept no records at all for how almost $1 million was distributed.
In addition the cheques were made out in her name and the elected band manager Glen Newman.
Squamish Chiefs and Council says both have now been relieved of their duties.
The investigation says there's no 'direct evidence' they kept the funds, but concluded it was clear they handed out funds to develop political support from members.
Squamish Nation says it discovered the problem after it changed the way cheques were approved and issued and new control measures will provide better accountability.
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