Sister Marie Thornton, a nun and former administrator, admits to embezzling $850,000 from Iona College
The Journal News
March 10, 2011
The Catholic nun who stole more than $850,000 from Iona College pleaded guilty Wednesday in Manhattan federal court to embezzlement.
Sister Marie Thornton, the former chief financial officer for the New Rochelle college, faces up to 10 years in prison, though sentencing guidelines will likely call for a term of three years or less.
She was fired in 2009 after officials discovered the theft. But Iona did not report the embezzlement to law enforcement. The stolen money was subsequently disclosed in the college's tax filings.
In a statement Wednesday, the school said it has implemented new safeguards to prevent a repeat of Thornton's crime.
"As we have previously stated, the college took all proper actions in this situation when it was discovered almost two years ago and the majority of the missing funds were recovered," the college's statement said.