The former CEO of the Summit Association of Realtors was sentenced this week to five years in prison for embezzling more than $415,000 from the non-profit she oversaw.
Sue Frank, 62, was also ordered to pay restitution for the “entirety of the financial loss she caused,” prosecutors said in a news release Tuesday.
Frank pleaded guilty in March to a felony theft charge after being arrested by police in Dillon last December in the case. She was head of the Realtors association from 1996 until her arrest.
“Frank forged checks and made unauthorized transfers into her personal bank account,” the release said.
“Frank refused to cooperate with authorities and now these funds are irretrievable,” current chair of the board of directors for the association, Dennis Clauer, . “Her calculated, premeditated ongoing efforts resulting in the loss of $400,000 have created dire consequences for our organization and the Summit County community.”
Bruce Brown, the 5th Judicial District Attorney’s Office, said Frank’s sentence shows “fraud does not pay.”
“Ms. Frank’s five-year prison sentence is the price thieves should expect to pay for stealing from their employer,” Brown said in a statement. “It is surprising that so many people are taking so much that they are not entitled to.”
Jesse Paul: 303-954-1733, jpaul@denverpost.com or twitter.com/JesseAPaul
