The Former Financial Director of Historic Black Fraternity Pleaded Guilty to Stealing Nearly $3 Million

Curtis D. Anderson, who worked his way up for more than 30 years, from being a bookkeeper to director of finances at Kappa Alpha Psi which is one of the biggest and most compelling Black college fraternities of the nation, was on Tuesday found to be guilty of thieving an amount of around $3 million from the organization.

The 59 years old Anderson of Claymont, Del., stated that little at the time of hearing in front of U.S. District Judge Timothy J. Savage, but earlier he told investigators that he was involved in thieving the money to finance a gambling habit during the time while he was suffering from addiction of drinking.

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The Organization Has Over 125,000 Members

The efforts that were put into coming across the Kappa Alpha Psi officials on Tuesday, whose international headquarters building is situated on North Broad Street in Philadelphia, remained unsuccessful.

Established in the year 1911, the fraternity has over 125,000 members along with 700 undergraduate and alumni chapters in almost every state of the nation and international chapters in Nigeria, the West Indies, South Africa, Germany, the United Kingdom, Japan, and South Korea.

Santander Bank Warned the Fraternity

As per the statement made by the prosecutors, in June 2012, Anderson had started to steal money from the fraternity with the use of checks he either filled out in the name of himself or those whose signatures he faked and swapped them for cash.

In 2018, Santander Bank had marked out the strange transactions and warned the fraternity.

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It was confirmed by Assistant U.S. Attorney Mary Crawley to the judge that in total, Anderson encashed 78 deceitful checks at Santander Bank and 40 at Wells Fargo Bank.

Former financial

In December 2018, Anderson was suspended following the fraternity personnel getting to know about the missing money and came to face him.

Then, Anderson confessed to his seniors that he was suffering from the addiction of gambling and drinking at the same time and had also wiped out a maximum of the money at Harrah’s Casino. In October 2020 he was officially taken into charge.

During a hearing on Tuesday, Anderson was found guilty of four counts of wire fraud and one count of serious identity stealing.

Anderson Co-operated in the Investigation but No Assurance About the Sentence

Savage set sentencing for next year in February and has permitted Anderson to stay free till that time.

Though he would be given praise for accepting the liability for his deeds and co-operating with the Justice Department to complete investigation of him, the judge has still given a warning to Anderson that there was no assurance about the punishment he would be imposed with.

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The judge mentioned that the highest punishment could be as high as 82 years of imprisonment and a penalty of an amount of nearly $1 million.

Federal Sentencing Guidelines Call for an Imprisonment of 5 to 6 Years

According to the guidelines of the Federal sentencing, it calls for a period of up to five to six years in prison, as stated by Crawley following the hearing.

She said “He stole nearly $3 million from the former employer that had placed him in a position of trust as the director of finance,” adding further “It was a long-standing fraud scheme to embezzle from his employer over many years. He reaped the benefit of that.”

Brian J. Zeiger, Anderson’s attorney, stated that Anderson is getting diagnosed for his addictions to gambling and drinking, said “He’s a nice guy,” adding further “It’s a shame.”

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