Retired nun will plead guilty to stealing more than $835K from Torrance Catholic school

ktla ^ | Cindy Von Quednow

[BenLurkin]

A retired nun who worked as a principal of a Catholic elementary school in Torrance has agreed to plead guilty in connection with stealing more than $835,000 in school funds to pay for personal expenses, including gambling trips, federal officials announced Tuesday.

She agreed to plead guilty to the two charges, which carry a maximum sentence of 40 years in federal prison, according to the U.S. Attorney’s office for the Central District of California.

She had been responsible for charitable donations, as well as funds the school received to pay for tuition and fees, officials said.

Officials said she diverted school funds into the convent account and the savings account and then used the diverted cash to “pay for expenses that the order would not have approved, much less paid for, including large gambling expenses incurred at casinos and certain credit card charges,” officials said.

[Celtic Conservative]

There are 2 things to prevent that: 1. The so called “chinese wall”. Aka, separate accounts receivable and accounts payable run by 2 different people, and: 2. Random and regular external audits.

CC