A man was charged with felony theft Friday for allegedly stealing more than $500,000 from the nonprofit company he founded to help troubled youths and using the money for gambling, strip clubs, divorce payments to his ex-wife and loan payments on his former residence.
An affidavit filed by the district attorney's office accused 46-year-old James McCloy of stealing more than $530,000 from Susquehanna House Inc. between 2009 and 2012.
McCloy, of Jersey Shore, is the founder and president of Susquehanna House, which owns properties in Linden, Jersey Shore, Montoursville and Williamsport in Pennsylvania and Atlantic City in New Jersey. It says it provides residential services, foster care and transitional living for youths.
McCloy told prosecutors that he withdrew the money for loans he had made to the company and to reimburse himself for being underpaid in earlier years, according to the affidavit.
District Attorney Eric Linhardt said McCloy was released on $150,000 unsecured bail. Effort to reach McCloy by telephone were unsuccessful.
Linhardt said none of the allegations against McCloy interfered with the work done by Susquehanna House employees.
Nonprofit Founder Steals $530K, Uses It at Strip Clubs: DA
The nonprofit was set up to help troubled youth. The founder is accused of stealing money for gambling, strip clubs and divorce payments to his ex-wife
Copyright AP - Associated Press
