(April 23, 2008)

BEEVILLE--Coastal Bend College leaders said they've fired their business manager after he's accused of embezzling more than $100,000. A bank worker uncovered this alleged fraudulent scheme.

Coastal bend College President Dr. Thomas Baynum announced business manager Aubrey Smart was caught embezzling about $125,000 from the college.

"Absolutely, the college has been betrayed," said Jeanene Jones, who is a Coastal Bend College Faculty member. 

The President said Smart transferred money from the business operations account into his personal account. He said it happened four times over a three month period.

IBC Bank workers discovered the fraudulent scheme. President Baynum said Smart started with a small transaction to see if he could embezzle the money and then returned that amount to the college account.

"It was discovered it would work then the transfers of the other amounts into the account were larger amounts and were not returned," said President Baynum. 

After examining the CBS accounts, administrators determined Smart was the only person involved with these illegal transactions.

"It was an internet transaction that he used he used his pin number for and it was from one account to another, so it was his access code that did it," President Baynum said.

So far, the president said they have recovered about $20,000 of the embezzled money, but they also have insurance to make sure they don't lose the remaining money.

Some of these staff members want to make sure Smart faces criminal charges for his actions.

"Yes, I believe he should be prosecuted to the full extent of the law," said Kevin Behr, who is a Coastal Bend College Faculty member.

The FBI and the Bee County Sheriff's officers are both investigating this case and officers expect charges will be filed against Smart.

--Manuel De La Rosa, Area 3 News, mdelarosa@kiiitv.com