For Immediate Release - July 27, 2012

Former CFO Of St. Ann’s Home Arraigned On Embezzlement Charges

Sharon Cutter, 50, of 34 Piedmont Street, Methuen, Mass, was arraigned today in Salem Superior Court on two counts of embezzlement from St. Ann’s Home, a residential program for troubled youths that is under the umbrella of the Boston Archdiocese.  Judge Timothy Feeley released her on personal recognizance on the condition that she stay away from witnesses, not sell/transfer her home, and give up her passport to probation.

The Essex Grand Jury handed down two indictments for embezzlement on June 27, 2012.  The indictments allege that Cutter repeatedly used St. Ann credit card accounts to purchase items for personal use and used petty cash withdrawals for personal use between July 2006 and October 2011.  The alleged amount embezzled by Cutter over that 6 year period is in excess of $100,000.   

Until November 2011, Cutter was the Chief Financial Officer for the St Ann’s Home.  She had been an employee of St. Ann’s for 23 years.  An employee of St. Ann’s reported financial improprieties to a Board member in October 2011.  St. Ann’s performed an internal investigation and terminated Cutter’s employment.  The District Attorney’s office sought the embezzlement indictments after its own criminal investigation. 

Cutter is represented by James Krasnoo and is presumed innocent until proven guilty in court.  She is scheduled to appear in court on August 22, 2012 for a pre-trial conference.

Essex Assistant District Attorney Greg Friedholm is assigned to the case.