What do I do if I am falsely accused of embezzlement/misappropriation of funds?

I was the treasurer for a PTSO at the local elementary school. I live in a very rural town. In the beginning of February, parents who had never been to a meeting, hostilely took over the PTSO, replacing the current board with their newly self-appointed board. They did not agree with how the previous board was running things, their only complaints not liking that gas purchases were reimbursed and appreciation and meeting food were supplied as thank you’s for volunteers. All were included in the meeting minutes and corresponding budgets. The former president and I gave all money, paperwork, tools (laptop/adding machine), etc., to the district office, with signed itemized receipts. The district office turned all of the items to the sheriff's department. Now the president and I are being investigated for embezzlement and misappropriation of funds over $5000, according to the front page of the local newspaper, which, of course, is full of lies and provocative statements. This has been going on since the beginning of February and are wondering if the sheriffs are ever going to come knocking at our doors. We know to exercise our right to silence when it comes to the police. However, having the money for a defense fund is something that I do not possess. We truly have not done anything and have been the subject of a witch hunt. Is there a possibility that the deputies may never come if they find everything is on the up and up? Will we be notified by them that the investigation is over? I've never been through anything like this and living in a tiny town is not helpful, having to deal with the death glares and such. Any help would be appreciated at this point.