US nun accused of $1.2m fraud
A Catholic nun with a reputation for gambling trips to Atlantic City was accused of embezzling more than $1.2 million (€906,000) from a college where she oversaw the school's finances, officials said today.
Sister Marie Thornton, former vice president of finance at Iona College in New Rochelle, New York, is charged with sending phony invoices to the school to pay off personal credit card bills and expenses, the US attorney's office said.
The thefts occurred between 1999 and 2009, when Sr Thornton resigned from the Catholic college, court documents said. She entered a plea of not guilty to a federal embezzlement charge.
The college of some 5,000 students has come under fire from alumni and donors for never reporting the missing money to authorities and only mentioning the theft in its 2009 tax filing sent in February to the Internal Revenue Service.
Iona officials issued a statement saying the school has implemented new financial oversight controls and recovered most of the missing funds.
The school also disputed the amount stolen, but did not specify by how much. In the IRS filing, Iona said the theft amounted to $800,000 (€604,000).
Reuters
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