Tax man accused of $1.3 million in public theft

A tax collector in a small Pennsylvania town has been accused of embezzling more than $1 million in public money to invest in personal accounts. The man, age 77, will have to mount a criminal defense in the matter. He is accused of gambling with the Delaware County entities’ money, losing it in high-risk stock investments. The man oversaw a district with few financial resources, encompassing Aldan Borough and the relatively impoverished William Penn School District. The town for which he collected taxes has a population of just more than 4,100 people. It appears the man originally intended to repay the missing money, though he experienced serious setbacks when he failed to invest in profitable stocks. The man controlled some 14 tax-payment accounts and an additional 30 investment accounts at the time he was apprehended. The man may have simply wanted to borrow the money, replacing it when the investments showed a significant return. Sadly, the market conditions are such that gambling in the stock market is less likely to pay off, as the man may have quickly discovered. Luckily, the school district’s insurance policy is likely to pay for the missing funds. The cash-strapped educational program in the area might not have been able to otherwise recover from the alleged theft. Local educators say they are upset that someone would steal from such a humble organization, especially when kids’ futures are at stake. Delaware County has been plagued with recent accusations of embezzlement and fraud. In one case, a mail carrier was arrested for taking money from his clients’ post boxes. Several finance directors and other public servants have also been accused of high-stakes theft, with amounts reaching into the hundreds of thousands of dollars. It appears that the man in this case is accused of taking more than any other recent defendant in the area, however. Despite the fact that the man is accused of stealing from the school district, he deserves a fair trial. Case observers would do well to remember that the school will still receive money from the insurer. The man should not be thought of as guilty before he is actually convicted. Source:  articles.philly.com, “Taxman busted in $1.3 million theft scheme” William Bender, Aug. 30, 2013