Ex-Assistant Treasurer, Cashier At BART Charged With Stealing $400,000
SAN FRANCISCO (AP) _ A former assistant treasurer and a former cashier of the Bay Area Rapid Transit District were accused of stealing more than $400,000 from the system for more than 10 years.
Loren Gaulter, 58, of Hayward, who was BART’s assistant treasurer and district cashier, and Stanley J. Eng, 40, of Oakland, a former assistant district cashier, were each indicted Friday by a federal grand jury on three counts of embezzlement, one count of conspiracy and two counts of income tax evasion.
Each could be sentenced to 45 years in prison and fined $1.5 million if convicted, said U.S. Attorney William McGivern.
The indictment, following an investigation by federal agents and BART police, is separate from a series of embezzlement charges and guilty pleas by midlevel BART managers after an undercover FBI investigation from 1985 to 1988.
As district cashier in Oakland, Gaulter, assisted by Eng, was in charge of the BART cash-handling building, said Assistant U.S. Attorney Ben Burch. He said the men are accused of siphoning off money into two accounts they maintained in the names of Bill’s Arcade, and Eng and Gaulter Bait and Tackle.
The $400,000, allegedly stolen between 1978 and 1989, was documented through bank records, Burch said. It apparently has all been spent. Burch said the investigation was continuing.
Both men were suspended from work in November 1989. Gaulter later retired, and Eng was fired.
Frank Wilson, general manger of the transit system, said Friday that security in BART’s cash-handling had been increased as a result of the investigation.