Woman who stole $2.9 million from Mississippi State sorority sentenced, ordered to repay money
Published 6:00 am Sunday, September 18, 2022
A woman who reportedly stole $2.9 million dollars from a Mississippi State University sorority will spend nearly four years in federal prison.
Betty Jane Cadle, 75, of Oxford, was sentenced to 45 months in prison and ordered to pay $2,940,853.80 restitution to the Mississippi State University Kappa Delta chapter.
She was sentenced Friday by Senior Judge Glen Davidson at the federal courthouse in Oxford.
Earlier this year, Cadle pleaded guilty in March to writing a $20,000 check from the sorority corporation’s bank account and depositing it into an account for her business in January 2018, according to court documents.
Cadle was reportedly diverting money from the Delta Omega Chapter House Corporation for the Kappa Delta Sorority to her personal bank accounts and business between 2012 and September 2019.
Between 2018 and 2019, Cadle deposited money collected by the sorority into her business, Oxford children’s clothing store Belles and Beaus, according to court documents.
Sorority bylaws state any expenditures from the sorority corporation’s bank account require prior approval by the board consisting of a president, treasurer, secretary and a student representative, according to court documents.
As treasurer, Cadle was responsible for managing sorority dues, purchasing items for the sorority house, paying utility bills, filing tax documents and general bookkeeping, according to court records.