Former Fraternity Financial Director Steals to Gamble
A former Financial Director of the Kappa Alpha Psi Fraternity is in trouble after it was determined that he stole $3 million to gamble at Harrah’s Philadelphia casino.
When one is in charge of the finances of a group or business, that individual must be trustful so that the organization can be sure the money will be handled correctly. For the most part, businesses hire individuals with a good reputation to ensure funds are secure. On rare occasions, a financial employee will decide to make the wrong moves and steal from their employer. Take the recent story involving the former financial director of the Kappa Alpha Psi fraternity.
As one of the largest Black college fraternities, Kappa Alpha Psi trusted Curtis D. Anderson to take care of the funds for the organization. Instead of taking care of the fraternity’s funds, Anderson reportedly used $3 million to gamble at Harrah’s Philadelphia Casino.
Details of the Legal Filing
In a court filing, the 58-year-old is accused of taking money from the fraternity starting in June of 2012. Anderson would write a check from the check book of the fraternity to himself or someone else. He faked signatures and would cash the checks at Wells Fargo or Santander banks to gain access to cash.
During a six year time frame, it is believed that Anderson cashed 78 checks and used the money to play casino games. He recently plead guilty in court and stands to face the consequences of four charges of wire fraud and one charge of aggravated theft.
Caught in the Act
Anderson was fired back in December 2018 by the fraternity after the Santander Bank alerted the group of suspicious transactions involving their bank account. John Burrell, the executive director of the fraternity was alerted and attended a meeting with the President of the organization, Thomas Battles, at the bank to discuss what was going on.
At the time, the two saw Anderson leaving the bank. They called him immediately and asked him to come back. He was confronted about the spending and Anderson confessed to the theft and said he was dealing with an addiction to gambling as well as alcohol.
The actions of Anderson are not uncommon, as individuals in positions connected to financials have stolen in the past. Having access to large amounts of money is tempting and for Anderson, his battle with gambling and alcohol became too much and he crossed the line with his employer.
Anderson was associated with the Kappa Alpha Psi for three decades and had worked his way up from bookmaker to the position of financial director. He had grown within the group and was a respected member. Unfortunately, his actions involving the funds of the organization now see him facing many years in prison as well as a fine.
The charges could see Anderson sentenced to 82 years in prison and fined up to $1 million. It is likely that he will only be imprisoned for five or six years. United States Attorney William M. McSwain commented recently on the case, stating that embezzlement is a theft and Anderson was in a senior positions within the organization and was trusted by his employer.
He reportedly used that trust to steal millions from within the organization and continued this conduct for many years before he was caught. The attorney says that his office will continue to work on cases such as this to ensure that innocent organizations are protected against any type of fraud such as this.