Warrant issued for former employee

Former accounting clerk accused of embezzling $192,000 from university

By Ryan smith

A Fresno police investigation led to a warrant for the arrest of a former campus employee accused of embezzling more than $192,000 from the Fresno Foundation, a non-profit campus organization, officials said.

Fresno County Superior Court documents show that Audrey Santos-Fay, also known as Audrey Therman, confessed to embezzling $192,310.50, The Fresno Bee reported Monday.

Santos-Fay was hired in March 1995 as a Foundation accounting clerk and on May 1, 2000, was promoted to accounting supervisor.

Santos-Fay was providing accounting services to the California State University, Fresno Foundation in accordance with a management services agreement with the University Association, a separate auxiliary corporation, university spokesman Mark Aydelotte said.

The Fresno Foundation is part of the university’s auxiliary services that manages all aspects of the financial activities for grants and contracts, scholarships, loans, gifts and donations.

Between Sept. 13, 2001 and June 13, 2003 Santos-Fay created and issued about 52 checks made payable to herself or her husband, Jeffery A. Fay, Deputy District Attorney John Sarvnoch said Tuesday. Santos-Fay then endorsed the checks with her name or signed her husband’s name and deposited the checks into her personal checking account, court documents show.

The loss was discovered in late September as part of the annual audit review performed by Moore Grider & Co., the Association’s external audit firm, Aydelotte said. After the discovery, the Association conducted its own investigation and determined that no other employees were involved.

The Association’s insurance will cover any of the funds lost.

Santos-Fay’s employment was terminated immediately by the Association. She faces grand theft and embezzlement charges, court documents show..