Sheriff’s deputies issued Stephanie Olmsted a citation with a court date for felony embezzlement. She is accused of embezzling money during her nearly 18 months as treasurer of the Panther Club.
“She had access to the money because of her position as treasurer,” said Sheriff’s Detective Jake Ainsworth. “And she had the ability to write checks and collect excess cash generated through fundraisers.”
Ainsworth said the embezzlement likely started in late 2010 and that Olmsted was acting alone. She was removed as treasurer in July 2011, apparently after questions arose about the funds raised by the club.
“There is an ongoing investigation right now,” said middle school principal Jeff Calden in December. “The parent club brought information to the school, we presented it to the district office and they contacted the Sheriff’s Office.”
Olmsted is scheduled to appear in court in early February.
Ainsworth and Sgt. Jim Ross noted the sensitivity of this case due to the nature of the school fundraising in difficult economic times and that Olmsted has children in the district.
Ross noted that Panther Club is completely separate from San Lorenzo Valley High School’s Booster Club, the main fundraising arm for the high school.