News

Arrest made in foundation embezzlement case

Former employee Frances Louise Stewart arrested without incident

A 52-year-old woman suspected of stealing $100,000 from the Silicon Valley Community Foundation has been arrested, Mountain View police confirmed Wednesday.

Frances Louise Stewart, a San Carlos resident and former foundation employee, was arrested without incident at a friend's home in Redwood City at 3 p.m. today, according to Officer Steve McCoy, a spokesman for the Mountain View Police Department. A warrant for her arrest was issued Dec. 24.

"Stewart was the sole focus of our investigation. Our investigation is still in progress," McCoy said.

She was transported to the main jail in San Jose and booked. McCoy said she is being cooperative. He did not have a date for her court appearance, he said.

Stewart was fired on Monday after the foundation's finance department discovered the $100,000 loss, said Rebecca Salner, media relations officer for the nonprofit, located in Mountain View on El Camino Real near Showers Drive.

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Stewart worked in the human-resources department. The money taken was from "flexible spending accounts" that are used for employee health care and dependent care expenses.

The monies were not budgeted for any philanthropic grants or programs, according to a statement on the organization's website.

The Community Foundation oversees donations to numerous local nonprofit organizations and in 2008 awarded $264 million in grants.

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Arrest made in foundation embezzlement case

Former employee Frances Louise Stewart arrested without incident

by Sue Dremann and Kelsey Mesher / Palo Alto Online

Uploaded: Wed, Dec 30, 2009, 6:41 pm

A 52-year-old woman suspected of stealing $100,000 from the Silicon Valley Community Foundation has been arrested, Mountain View police confirmed Wednesday.

Frances Louise Stewart, a San Carlos resident and former foundation employee, was arrested without incident at a friend's home in Redwood City at 3 p.m. today, according to Officer Steve McCoy, a spokesman for the Mountain View Police Department. A warrant for her arrest was issued Dec. 24.

"Stewart was the sole focus of our investigation. Our investigation is still in progress," McCoy said.

She was transported to the main jail in San Jose and booked. McCoy said she is being cooperative. He did not have a date for her court appearance, he said.

Stewart was fired on Monday after the foundation's finance department discovered the $100,000 loss, said Rebecca Salner, media relations officer for the nonprofit, located in Mountain View on El Camino Real near Showers Drive.

Stewart worked in the human-resources department. The money taken was from "flexible spending accounts" that are used for employee health care and dependent care expenses.

The monies were not budgeted for any philanthropic grants or programs, according to a statement on the organization's website.

The Community Foundation oversees donations to numerous local nonprofit organizations and in 2008 awarded $264 million in grants.

Comments

Rumsfield
Stanford
on Dec 30, 2009 at 9:53 pm
Rumsfield, Stanford
on Dec 30, 2009 at 9:53 pm

What did she do with the money? Gambling? Drugs? Overspending at Macy's? Out of control medical bills?


resident
Greenmeadow
on Dec 30, 2009 at 10:07 pm
resident, Greenmeadow
on Dec 30, 2009 at 10:07 pm

probably struggling to survive like a lot of us.


Crescent Park Dad
Crescent Park
on Dec 31, 2009 at 11:32 am
Crescent Park Dad, Crescent Park
on Dec 31, 2009 at 11:32 am

Struggling to survive? Serious?

She had nice paying job at the foundation. If she was struggling to survive it probably had more to do with overspending on unnecessary items (legal or not).

Kind of like the California & U.S. Governments...can we arrest them too while we're at it?


Patty
Community Center
on Jan 12, 2010 at 5:21 pm
Patty, Community Center
on Jan 12, 2010 at 5:21 pm

Did the SVCF have internal controls in place? This is more than a monetary loss for SVCF.


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