A former employee of The Claremont Colleges Services (TCCS), Steven Anthony Cowles, pleaded guilty to embezzlement of over $1 million from the Claremont Colleges from Aug. 2015 to July 2024. Cowles was an electrical shop supervisor and embezzled $1,000,571 through 1,343 unauthorized wire transactions, according to the US Attorney’s Office.
TCCS had provided Cowles with a “p-card,” a Wells Fargo credit card used for company purchases, as he was responsible for ordering parts and supplies when needed. According to court documents, Cowles linked his p-card to a PayPal account to conceal unauthorized transfers.
Cowles then concealed his fraud through false documents, such as fictitious invoices and requisition forms of electrical products, which were then uploaded to the Workday platform. Workday is the primary website for logging labor time and financial management at the Claremont Colleges.
Cowles will face up to 20 years in federal prison according to the US Attorney’s Office. United States Central District Of California District Judge Maame Ewusi-Mensah Frimpong has scheduled Cowles for an April 22 sentencing hearing.
“The employee was terminated, and we engaged forensic accountants to review the situation thoroughly and notified law enforcement,” Laura Muna-Landa, Vice President of Communications for the Claremont Colleges, wrote in a press release “We have taken comprehensive steps to address this matter and protect the institutions going forward.”
The press release also stated that TCCS’ insurance coverage has absorbed the resulting financial loss and they have since increased financial precautions.
According to court documents, Cowles committed interstate wire fraud in Jan. 2024 . Cowles was found to have transferred $1,075.50 from his TCCS P-Card to his paypal account through a server outside of the State of California and then concealed the wire fraud as a false invoice for a company listed as Mitchell Instrument Company Inc.
“TCCS has implemented a series of enhanced financial controls in response to the incident,” Muna-Landa wrote “These include revised purchasing policies, strengthened oversight and reporting procedures, mandatory training, and new system safeguards.”
Cowles’ lawyer declined for comment.
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