Former SNHU official admits stealing $1.15 million
HOOKSETT — A former Southern New Hampshire University budget director charged with stealing $1.15 million from the university over 14 years already paid most of the money back as part of a negotiated agreement in which he will plead guilty to two felony charges this month, the university president and state prosecutors said Thursday.
Raymond C. Prouty, a 1977 SNHU graduate and former assistant athletics director who lives in Hooksett, is charged in one indictment with stealing more than $1,500 from Southern New Hampshire University.
A second indictment accuses him of creating a business called Only the Best OPS, which received money from 2009 to 2012 from the university purportedly to pay people who officiated at SNHU sporting events. Instead, Prouty used the money to pay personal debts.
SNHU President Paul LeBlanc said Prouty already paid most of the $1.15 million back to the university and agreed to pay back the entire amount as part of negotiated plea deal he reached with the New Hampshire Attorney General's office.
Prouty will be arraigned on the charges in Merrimack County Superior Court in Concord on Feb. 25.
Prouty worked at the university from 1978 to 2012.
After the university discovered financial discrepancies in May 2012, it hired a forensic auditor who gathered enough preliminary information to report the matter to the Attorney General on June 11, 2012, LeBlanc said.
Prouty was inducted into the university's athletics hall of fame in 2010.
LeBlanc said the university hired an outside auditing firm to review the controls in place.
"We want to make sure this doesn't happen again," he explained.