BREAKING: Former Employee Arrested On Charge Of Embezzling $2 Million (Updated)

[Mid-Hudson News]

In an all-campus email sent moments ago, Cappy wrote that following an investigation into "financial irregularities," the Poughkeepsie police arrested a former Vassar employee for allegedly embezzling almost $2 million from the school's construction funds. The District Attorney's office is now involved and working to help Vassar recover the funds.

"These allegations go to the very heart of the trust that we rely on in our community," Cappy wrote. "While this is a very disturbing incident, all of us appreciate how our staff, faculty, and students work together every day to create a college of the highest possible integrity."

Update: The Poughkeepsie Journal posted an article on the arrest, naming Arthur H. Fisher, who worked as project manager from 2005-2010, as the former employee arrested. The police charged him and his wife, Jennifer, with first degree larceny following a search of their Ossining home. The Fishers are currently in Dutchess County Jail.

Update #2: Mid-Huson News has more information: "Poughkeepsie Town Police alleged the couple set up a phony construction company and deposited the money in that company’s bank account. The US Postal Service also assisted in the investigation."