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Quakertown Man Sentenced to 36 Months for Defrauding Lehigh University Fraternities and Sororities
Quakertown’s Albert Fisher, 78, has been sentenced to 36 months in prison for his role in a conspiracy to defraud Lehigh University fraternities and sororities. The sentence was handed down by the Honorable Joseph F. Leeson Jr., United States District Judge.
According to the indictment, Fisher and Person #1 operated Fraternity Management Association (“FMA”) in Bethlehem, PA, and created a fictitious consulting company, “Fisher and Associates,” which had FMA as its sole client. The duo conspired to take money intended for the operations and upkeep of the fraternities and sororities, instead misappropriating at least $1,461,777.96 in funds for their own personal use.
Fisher allegedly lied to the victims about the money entrusted to FMA, and when the company ceased operations in 2014, he and the Executive Director caused an additional $990,157.41 in expenses for the fraternities, sororities, and other victims, including Lehigh University.
Fisher also failed to report $614,398 in income on his tax returns for tax years 2009 to 2013, which included personal expenses paid by FMA and consulting fees authorized by the Executive Director.
The case was investigated by Internal Revenue Service Criminal Investigations, FBI Allentown Resident Agency, and the Bethlehem Police Department. Assistant United States Attorney John Gallagher is prosecuting the case.
Fisher’s sentence also includes 3 years of supervised release upon release from prison, $2,470,247.52 in restitution to victims, $205,000 in restitution to the Internal Revenue Service, and a $700 special assessment.
The victims of Fisher’s scheme include Lehigh University, as well as numerous fraternities and sororities that relied on FMA for financial management and operations. The case serves as a reminder of the importance of transparency and accountability in financial transactions.
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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