Embezzlement of Sorority Funds Alleged (U of the Pacific, Alpha Phi)

[exlurker]

See

http://www.mercurynews.com/breaking-...nclick_check=1

This kind of thing isn't an everyday occurrence, but it's certainly not unheard-of for an alum to embezzle funds. Sometimes I think the old "X-Files" motto needs to be followed when there's money involved: "Trust No One."


Edited to add:

A few more details are in another report at

http://www.recordnet.com/apps/pbcs.d...08/-1/A_NEWS07

Excerpts from the report linked immediately above:

. . . She fell under suspicion at a February meeting, when Lee refused to give detailed financial information of the sorority. Board president, Jayme McKown, called police.

Up to the morning when Lee was to hand over her accounting records to the forensic auditor, Lee was altering entries . . . .

[Alumiyum]

"It was easier".

Dumb bitch. I would be beyond pissed if the money I paid to my chapter were used for an adviser's landscaping and manicures.

ETA: How do you "lose track" of the fact that you've taken $100,000+?

[NinjaPoodle]

Originally Posted by Alumiyum

"It was easier".

Dumb bitch. I would be beyond pissed if the money I paid to my chapter were used for an adviser's landscaping and manicures.

ETA: How do you "lose track" of the fact that you've taken $100,000+?

AGREE

[Drolefille]

Originally Posted by Alumiyum

"It was easier".

Dumb bitch. I would be beyond pissed if the money I paid to my chapter were used for an adviser's landscaping and manicures.

ETA: How do you "lose track" of the fact that you've taken $100,000+?

The same way my client claimed he didn't do his homework because he had 'nesia.

Or when anyone who gets subpoena'd these days "does not recall" a single thing.

Unfortunately for her, money leaves a trail.

[EE-BO]

Originally Posted by Alumiyum

"It was easier".

Dumb bitch. I would be beyond pissed if the money I paid to my chapter were used for an adviser's landscaping and manicures.

ETA: How do you "lose track" of the fact that you've taken $100,000+?

It is frighteningly simple. During my time as chapter advisor there was a time when alumni poured in substantial funds to improve chapter conditions. This offer was extended contingent upon a trusted alumnus, me in this case, having control of the chapter's checkbooks for six months.

If I had been so inclined, I could have easily stolen six figures in that time with noone the wiser before I was long gone.

Granted this was a fraternity where there are generally fewer controls over operations than one finds in sororities, but at a school like Texas when you have a large sorority or fraternity with 150+ members paying dues and rent (with the rent usually paid to a housing corporation that already owns outright the chapter house)- the annual budget is larger than many small companies. We are talking an annual intake of funds that often exceeds $1,000,000.

Stealing a sizeable sum of money in such circumstances is quite possible unless there are many watchful eyes.

[sigmadiva]

When debit cards first came out my grad chapter voted not to have a debit card for our chapter account because we recognized the potential abuse.

It is better to have at least two people on the account.

[Psi U MC Vito]

First link is broken.

[exlurker]

Originally Posted by Psi U MC Vito

First link is broken.

It still works for me:

http://www.mercurynews.com/breaking-...nclick_check=1

[exlurker]

Update on U of the Pacific Alpha Phi Embezzlement Articles

http://www.recordnet.com/apps/pbcs.d...315/-1/NEWSMAP

Excerpt from ^:

November 10, 2010 12:00 AM
STOCKTON - A former University of the Pacific student charged with embezzling thousands of dollars from her sorority pleaded no contest Tuesday in San Joaquin County Superior Court.

In a negotiated plea deal . . . Lina Lee, 39, will pay back $38,000 to the Alpha Phi, Iota Gamma Chapter, and spend 60 days on house arrest with an electronic ankle monitor.

In six months, she will appear again before . . . Judge Franklin Stephenson, and if she has met her end of the bargain, the judge said he will turn her felony grand theft charge to a misdemeanor conviction.

Lee . . . was accused in September of taking as much as $114,507 from the sorority while serving on its board. She paid back much of it before investigators caught up with her.

[Psi U MC Vito]

Maybe it's just me, but I click on it and get redirected to secure.www.greekchat.com

For the story, I find it strange there was no fail safes. Even on the undergraduate level my chapter required all checks above a certain amount to be signed by both the president and treasurer.

[exlurker]

Originally Posted by Psi U MC Vito

Maybe it's just me, but I click on it and get redirected to secure.www.greekchat.com

For the story, I find it strange there was no fail safes. Even on the undergraduate level my chapter required all checks above a certain amount to be signed by both the president and treasurer.

Okay, here's another idea:

Try going to

http://www.mercurynews.com/breaking-news

Look at list of stories that shows up. Click on the one about " Union City woman" and "embezzlement." Maybe that will work?

[Alumiyum]

Originally Posted by Psi U MC Vito

Maybe it's just me, but I click on it and get redirected to secure.www.greekchat.com

For the story, I find it strange there was no fail safes. Even on the undergraduate level my chapter required all checks above a certain amount to be signed by both the president and treasurer.

I found that odd, too. IIRC our checks had to be signed by either the president or VPF and the financial adviser or chapter adviser...but always by two individuals.

[AGDee]

Originally Posted by Alumiyum

I found that odd, too. IIRC our checks had to be signed by either the president or VPF and the financial adviser or chapter adviser...but always by two individuals.

This is how it should be to be able to be bonded. Collegians rarely understand why we do this. I often think they believe it's so they can't go spend all the money. They don't understand that it also protects their funds. One of the things we look at in a financial review is to make sure there are no pre-signed checks because it's "easier" to have one person (either alumna or collegian) sign a few checks ahead to reduce how often the two have to meet to sign them. It was fairly common back in my day to pay cash for dues also. It's very easy to just pilfer cash, especially if receipts are not issued immediately. This is one huge advantage to using Omega Fi.

[Alumiyum]

Originally Posted by AGDee

This is how it should be to be able to be bonded. Collegians rarely understand why we do this. I often think they believe it's so they can't go spend all the money. They don't understand that it also protects their funds. One of the things we look at in a financial review is to make sure there are no pre-signed checks because it's "easier" to have one person (either alumna or collegian) sign a few checks ahead to reduce how often the two have to meet to sign them. It was fairly common back in my day to pay cash for dues also. It's very easy to just pilfer cash, especially if receipts are not issued immediately. This is one huge advantage to using Omega Fi.

I think I would have been more confused if two people didn't have to sign checks because that's just common sense. As a member paying dues I would have been upset if I knew the VPF could sign off on whatever she wanted with no system of checks and balances. And as this example shows it isn't just the collegians that need checks and balances.

[ThetaPrincess24]

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