Oxford woman charged with stealing $2.9M from MSU sorority
Published 8:55 am Friday, September 9, 2022
An Oxford woman stole $2.9 million from a Mississippi State University sorority, according to court records from the Northern District of Mississippi.
The U.S. Attorney’s Office for the Northern District is sentencing Betty Jane Cadle, 75, for diverting money from the Delta Omega Chapter House Corporation for the Kappa Delta Sorority to her personal bank accounts and business between 2012 and September 2019.
Though court records state she received the millions as a part of a “scheme,” she is only facing sentencing for one count of wire fraud.
Cadle pleaded guilty in March for writing a $20,000 check from the sorority corporation’s bank account and depositing it into an account for her business in January 2018, according to court documents.
Between 2018 and 2019 Cadle deposited another five checks totaling about $111,500 into her business, Oxford children’s clothing store Belles and Beaus, according to court documents. As part of her plea deal, the federal government agreed to dismiss those five counts of wire fraud, according to court documents.
Court records did not say where the rest of the money allegedly taken from the sorority went.
Sorority bylaws state any expenditures from the sorority corporation’s bank account require prior approval by the board consisting of a president, treasurer, secretary and a student representative, according to court documents.
As treasurer, Cadle was responsible for managing sorority dues, purchasing items for the sorority house, paying utility bills, filing tax documents and general bookkeeping, according to court records.
She could face a maximum of 20 years of incarceration, a $250,000 fine, three years supervised release and a $100 special assessment. The court may also order restitution, according to court records.
Cadle’s sentencing is scheduled for Sept. 16, 11 a.m. at the federal courthouse in Oxford with U.S. District Court Judge Glen Davidson.
Cadle’s attorney was not able to be reached for comment when contacted by Mississippi Today. A spokesperson from the national organization of Kappa Delta was not immediately available for comment.
Editor’s note: This article was originally published at Mississippi Today.