Saturday, December 20, 2008
Update On Utah College Embezzlement Case: $500K Loss; None Recovered
Kathy Valdez, 41, the former Finance Director for Southwest Applied Technology College in Cedar City, Iowa, is out on $100,000 bail while the investigation continues into what happened to the $500,000 she allegedly embezzled from the college. According to prosecutors, Valdez allegedly stole the funds while she was finance manager between June 2007 and December 2008, depositing it into her own private account with Zions Bank. Valdez' statement reportedly claims that her ex-husband has since transferred the money to a different bank. A preliminary hearing is set for January 28, 2009.
Read FraudTalk's original post on this story here.