The Otago Cricket Association says Volts coach Vaughn Johnson has resigned following allegations of financial misconduct.
Johnson has been on sick leave due to a stress-related illness and was in his third season with the team.
Association chief executive Ross Dykes said on Friday the nature of the complaint represents a serious breach of trust.
In a written statement, Mr Johnson says he has made very bad decisions to do with his personal finances.
He says he regrets his actions and will now concentrate on restoring his health.