Math teacher sentenced for $140,000 theft Searsmont man returns money, will serve 4 months

BELFAST – A former Belfast Area High School math teacher who admitted embezzling $140,000 from his teachers union has been sentenced to four months in jail.

Jeffrey D. Olson, 59, of Searsmont pleaded guilty to theft by unauthorized taking when he appeared before Waldo County Superior Court Justice Donald H. Marden on Thursday.

Marden sentenced Olson to two years in prison with all but four months suspended, one year probation and restitution of $52,402.80 to the SAD 34 Education Association. Olson, who mortgaged his house to make restitution, immediately handed over a check.

Olson had served as treasurer of the education association for 20 years and investigators determined that he took approximately $140,000 during the years he cared for its accounts. Olson told police he took the money because of financial difficulties. He had paid back about $90,000 at the time the theft was discovered.

Assistant District Attorney Eric Walker said he recommended the suspended two-year sentence because Olson cooperated with authorities from the beginning and did not have a prior criminal record.

“He paid it all back, he has no prior record, he cooperated with the police and he admitted his involvement immediately when he was confronted with it,” said Walker. “The judge was satisfied with the recommendation.”

When he addressed the court, Olson apologized to the education association, the school district, his family and former students for having become a “negative role model,” said Walker. “Justice Marden felt his apologies were genuine.”

Olson resigned his teaching position a few days after he was formally charged in October.

Olson’s activities were revealed in June when the new president of the education association opened a bank statement and discovered 32 checks, each for $514, that were written to either Olson or his wife over a three-month period. When the president confronted Olson, he acknowledged taking the money. The association then contacted the police.

During the period he served as association treasurer Olson had sole control over the group’s checkbook.