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Once trusted, former SNHU budget director now in jail for theft
Raymond Prouty waits for his case to be called Tuesday in Merrimack County Superior Court. (PAT GROSSMITH/?UNION LEADER)
"It just started and escalated. It's not like I have a million in the bank," Ward said Prouty told investigators.
Prouty, of Hooksett, also arranged for another niece to receive $73,805 in unauthorized SNHU scholarships. Ward said after the hearing that none of Prouty's relatives were aware of what he was doing; none will be required to make reimbursement.
Ward said from May 2004 through May 2012, Prouty also stole $95,091.03 from three Hooksett Kiwanis organizations. He was treasurer at the time and would keep money taken in as cash.
An insurance company has already reimbursed the university $500,000. Prouty made his first restitution payment — $125,000 — Tuesday and is to pay $100,000 annually to SNHU until the debt is repaid. As a backup, he named the university the beneficiary of a $1 million life insurance policy.
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