School Principal Arrested For Stealing CU Funds

Register now

SCRANTON, Penn. – A former principal at McNichols Plaza Elementary School in South Scranton last week was charged with stealing $87,000 from an account at Penn East FCU he had access to through the Scranton Association of Administrators and Supervisors to pay for his gambling habit.

Jeffrey McCreary, 49 was charged with theft by failure to make required disposition of funds.

McCreary allegedly accessed the funds through unauthorized withdrawals from the account at the credit union between June 2004 and July 2010. According to court papers, McCreary made at least 102 unauthorized cash withdrawals during the six years he had access to the account.

When he was confronted by members of the association, court papers state, McCreary admitted in an e-mail that he took the money to fuel an ongoing addiction to gambling.

McCreary was treasurer of the association from 2004 through 2008 and had exclusive access to the bank account until July 2010.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER