SARANAC LAKE — A local business professor was charged with grand larceny after cash and savings bonds were allegedly stolen from a member of her family.
Saranac Lake Police said they arrested Jane Carpenter, 59, on Friday after an investigation revealed $27,000 in cash and $300,000 in savings bonds had been removed from an account over which she had been granted power of attorney.
Police Chief Bruce Nason said his department was notified of the alleged theft a week ago.
“It was reported by a family member that had given her power of attorney,” he said in an interview Tuesday.
Police retrieved business and legal documents in connection with the purported larceny and began investigating.
Carpenter allegedly made $27,000 in unauthorized cash withdrawals from an account, Nason said.
And, he said, “at this time, approximately $300,000 in savings bonds are unaccounted for.”
Nason said search warrants had been executed in two locations so far, but the bonds had not been found.
STILL JAILED TUESDAY
The Saranac Lake woman was charged with second-degree grand larceny, a felony, and taken to Franklin County Jail in lieu of $50,000 cash bail or $100,000 bond.
The case, still under Village Police investigation, has also been turned over to the Franklin County District Attorney’s Office.
“We haven’t received everything (documents) we’ve asked for,” Nason said. “As we get more information (from the family), we’ll turn it over to the District Attorney’s Office.”
As of Tuesday morning, Carpenter remained incarcerated at Franklin County Jail.
Carpenter is an associate professor of business at North Country Community College in Saranac Lake.
NCCC President Steve Tyrell said the college has reached out to students to let them know her classes are covered.
“There has been no change in the students’ ability to take the classes they signed up for,” he said Tuesday.
The college has made no decision on Carpenter’s employment status at this time, Tyrell said, and would do so in the future through the college’s due-process review.
“We’ll have to wait and see what happens and take steps from there.”
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