Nearly $90,000 Missing From Penn State Fraternity Bank Account


Penn State University police have opened an investigation into the Theta Delta Chi fraternity's bank records after its members reported nearly $90,000 in missing money.

According to a search warrant, records from the Citizens Bank account reveal about $57,000 in suspicious cash withdrawals between August 2011 and December 2012 and $30,000 in unauthorized debit card withdrawals.

Police requested for the documents in a search warrant in January after members of the fraternity approached them regarding the stolen funds from the account. They received the bank records in question last week.

Earlier, the fraternity leaders realized that the organization's bank balance was surprisingly low, plus, there were several large cash withdrawals.

The Pennsylvania State University is a public, state-related research university. Commonly referred to as Penn State or PSU, the institution was established in 1855. The university offers undergraduate, graduate, professional and continuing education offered through traditional and online mediums.

As of 2012, 839 student organizations are recognized at the University Park campus. The university also boasts of having one of the largest Greek systems in the country, with approximately 12 percent of the University Park population affiliated. Additional organizations on campus include Thespians, Blue Band, Glee Club, and LateNight.

© 2024 University Herald, All rights reserved. Do not reproduce without permission.
Join the Discussion
Real Time Analytics