Thursday, January 16, 2014

Colorado Man Accused Of Embezzling More Than $1 Million From Water Utility; Had Prior Convictions For Fraud and Embezzlement

From the McCook Daily Gazette on 1/15/14:

Stunned residents of the McCook area couldn't believe it Monday when word started spreading on the Internet that Terry Malcom has been accused of stealing more than $1 million over the course of a decade from the Cascade Metro and Arabian Acres Metro water districts in Teller County, Colorado.

The report brought shudders and head-shaking because Terry Malcom is the man who bilked Southwest Nebraska residents out of hundreds of thousands of dollars in his years as an attorney in McCook.

As a result of his misdeeds back then, Malcom was sentenced in March of 1998 to serve two to six years in prison for theft by deception and one to three years for second degree forgery. In passing sentence, District Judge John Murphy of North Platte said, "Basically, what it comes down to is how bad has the fabric of society been torn ..."


Read the whole article here.

Hat tip: FraudTalk reader Joe.

1 comment:

Anonymous said...

I understand that the person that hired Malcom was a longtime friend and likely knew about Malcom's problems in the past. I'd like to think that everyone deserves a second chance but clearly some folks are a bad bet. Is there a reliable way to know when to give a person a second chance and when run away?