Guilty Plea in Embezzlement Case (Alpha Tau Omega)
 

A former professor at Auburn has pleaded guilty to embezzling about $940,000 from Alpha Tau Omega, according to a short article on the Montgomery, Alabama, paper's web site:

http://www.montgomeryadvertiser.com/...708070326/1009

That sounds like a lot of money to me, but then I grew up in a middle-class family.

That's amazing. This has happened to chapters that I know and no one has ever been charged with anything. (Why? I don't know but...) I'm glad that they aren't taking this sitting down.

Good grief! I find this absolutely mind boggling. I hope this doesn't come across as blaming the victims, but how does someone steal almost a million dollars and nobody notices? Wasn't there any sort of internal audits or oversights in place? We have to account for every last cent that comes in and goes out.

That total is amazing. So blatant of him to think that would go unnoticed. Or maybe he didn't care... Who knows.

Hi Zillini: well, I don't know exactly how it was done, but a press release about the indictment -- this was long before the guilty plea -- has a general statement alleging that he used a real estate deal and other tactics to help get the money.

See:
http://www.usdoj.gov/usao/alm/Press/...nt_lawing.html

It's a lot when it's not yours and you've stolen it from an organization which is otherwise dependent upon it!

And I'd say the same if it was $920.00, too.

So I take it that you're bragging about your wealth? Perhaps that's not how you mean this comment, but that's how you're coming off.

Sorry, but what life span do you live in?

That is almost 1 Million Dollars from one Chapter. That is a lot of money to any GLO HQ's!

If he is found guilty and I hope so, I am sure He will get probation and have to pay restitution. Yep, see if he gets the @ 1 Million back to the Chapter!

So, in the meantime they are out of that money and screwed.:mad:

The chapter should blow it on one gi-normous party.

... and call it the "Mt Vesuvius" party. Who's with me?

Thanks for the link. It was very interesting.

From the above link:
Interesting. I guess the lesson here is always check the bank records and never take someone's word for it.

LOL! Al Capone was busted on tax evasion charges too. I just have this hilarious mental picture of someone reporting $930,000 of embezzlement income on their tax returns. I don't think they issue W-2's for that. :D

In the grand scheme of things, theft is theft. And, I believe, a felony.

You've just made it. One only has one character to lose.

But you failed to factor in that there are expenses that must be paid through out the year. It's not like that $638,000 is just extra cash lying around.

Using my own Chapter as an example, we set up our budget with a 5-10% surplus to cover any unexpected expenses. Whatever is left over gets put into savings for future long term expenditures like house renovations or major repairs. Losing almost $1 mill would take years to replace. It would delay many major projects. It might even force us to take out a loan if it were something critical that had to be done ASAP.