Wednesday, October 6, 2010

Catholic Priest In Ohio, "Father Sam," Admits To Embezzling $1.2 Million

The Rev. Samuel Ciccolini, aka Father Sam, 68, of Akron, Ohio, admitted to embezzling about $1.2 million from Interval Brotherhood Home Foundation, a non-profit he founded and ran since 1970. According to authorities, over a period of at least four years, from 2002 through 2006, Ciccolini engaged in an "elaborate subterfuge" by submitting fraudulent invoices purportedly for construction work and equipment that had been donated and receiving reimbursement. He then allegedly falsified records to cover up the fraud. Ciccolini has already reportedly paid back the misappropriated funds. He is due to be sentenced this Friday on felony charges of bank fraud and tax fraud.

Read the story here, here and here.

No comments: