Posted: Apr 23, 2014 8:05 AM
Updated: Apr 23, 2014 8:05 AM
PLAINVIEW, Texas (AP) A fired chief financial officer at a West Texas university must serve five years in prison for stealing more than $1.3 million in school money.
Hale County District Attorney Wally Hatch on Wednesday said 68-year-old James E. Smith was taken into custody after pleading guilty to felony theft.
The Amarillo Globe-News (http://bit.ly/1rlRSEO ) reports the ex-Wayland Baptist University CFO was sentenced last Thursday in a plea deal. Hatch says Smith was also ordered to repay the stolen money initially estimated at about $40,000.
Smith was suspended in March 2013 amid allegations he falsified financial documents and embezzled university money over a four-year period. The wrongdoing was uncovered during a financial review of campus construction.
Smith, who was fired last April, had been CFO of the school in Plainview since 2001.
Information from: Amarillo Globe-News, http://www.amarillo.com