Woman sentenced to 40-days ‘shock jail’ in embezzlement case

By Naomi Klouda
Homer Tribune
An Anchor Point woman was sentenced Monday to four months in a lesser sentence of “shock jail” and ordered to pay back $98,000 in an embezzlement case against local businessman Matt Shadle.
The final charges against Terry McCloud, 45, lowered Theft 1 to Theft 2, which is a class C felony. She was sentenced to a five-year suspended imposition of sentence, five years probation and ordered to repay restitution. She must also meet special conditions in providing a mental health evaluation to the Department of Corrections within 30 days. The evaluation relates to her request for shock jail, a sentencing consideration for  her  40-day incarceration. Public Defender Andy Pevehouse argued on her behalf that she suffers mental health issues related to “love of money,” but has no criminal record and did not need lengthy jail time to “shock” her into realization of her crime.
Homer Police charged the woman with first-degree theft for taking $95,794 from her ex-employer, Shadle. Police alleged that over 18 months McCloud took $29,340 in forged checks and $66,454 in unauthorized credit card transactions.
A former Homer City Council member, Shadle owns several businesses, including renting residences and commercial fishing. McCloud worked as a bookkeeper for him from September 2010 to April 2012. Shadle said he found out about the embezzlement in April when McCloud confessed.
Shadle said McCloud wasn’t a signer on any checking accounts and wasn’t authorized to use any credit cards. He said it appeared McCloud used a dormant bank account to deposit money into without Shadle’s his knowledge. He didn’t know how she set up a credit card account in his name.
Shadle, who spoke at the sentencing, objected that McCloud hadn’t served time in jail and expressed doubts he will get paid back. “A lot of people would do the same thing if they knew they could get away with it like this,” he said. The money embezzled from him should have gone to pay his own bills, which put him in a bad light with creditors. He also missed out on key communication with the City of Homer over a zoning matter in which fines wracked up to millions of dollars.“I trusted her to open my mail and keep me informed,” Shadle said. “To think I paid her $2,700 a month to what – rip me off?”

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Posted by on Oct 1st, 2013 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

1 Response for “Woman sentenced to 40-days ‘shock jail’ in embezzlement case”

  1. Terry says:

    I had nothing to do with the land deal except when I was told to be aware the city could be calling to try to get matt for selling the ground dirt and logging. I had nothing to do with this. This amount Shady say I owe include payments to Napa which Donald Malcolm signed for oil for Matt’s fishing boat, (14,000) payments to his property maintenance , And many other similar situations in this realm. When his crew went to Wasabi’s, I am being charged for this bill. Anyone can say anything they wish, but it does not make it true. Matt got booted from the City Counsel for Ethics violations,
    I was expected to be his accountant, with no training. I worked 40 plus hours a week for a grand a month not to mention being talked down to and curses when I needed assistance. and any mention on my behalf he needed an audit was snarklingly said “sure, it will come out of my 1000 a month pay. Plus having to do the yearly paperwork on my own, which it was always on time. As for how I hurt his credit, how was I involved when Key Bank dropped him as a customer for ethics violations with a bank?? I had nothing to do with this and was shocked. How does someone get kicked out of a bank.

    If a person wants to make a statement, fill it with truths, not such fabricated information your entire point is mute. To be a bully does not always work.
    When I first started working for this person, everyone I was in contact with said he was a scoundrel, slum lord etc, but I thought I could make a difference. Treat people right, but Matt is simply the man he is.

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