Oxford woman stole millions from Mississippi state sorority
An Oxford woman stole $2.9 million from a Mississippi State University sorority, according to court records for the Northern District of Mississippi.
The U.S. Attorney’s Office for the Northern District convicts Betty Jane Cadle, 75, of 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.
Although court records say she received the millions as part of a ‘scheme’, she is only at risk of being convicted on one count of wire fraud.
Cadle pleaded guilty in March to writing a check for $20,000 from the sorority’s bank account and depositing it into an account for his business in January 2018, court documents show.
Between 2018 and 2019, Cadle deposited five more checks totaling around $111,500 to his business, Oxford Belles and Beaus children’s clothing store, according to court documents. As part of its plea deal, the federal government agreed to dismiss all five of those counts of wire fraud, according to court documents.
Court records do not specify where the rest of the money allegedly taken from the sorority went.
The sorority’s bylaws state that all expenditures from the sorority society’s bank account require the prior approval of the board consisting of a president, treasurer, secretary, and 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 accounting, according to court records.
She could face a maximum of 20 years in prison, a $250,000 fine, three years of probation and a special assessment of $100. The court can also order restitution, according to court records.
Cadle’s sentencing is scheduled for 11 a.m. Sept. 16 at the Oxford Federal Courthouse with U.S. District Court Judge Glen Davidson.
Cadle’s attorney could not be reached for comment when contacted by Mississippi Today. A spokesperson for Kappa Delta’s national organization was not immediately available for comment.