ROCKLAND – A Waldoboro woman was arrested on charges of felony theft and forgery after an investigation by the Rockland Police Department’s Detectives Division.

Sandra J. Cole, 54, of 39 Sara Lane was arrested at her home Friday morning by the Waldoboro Police Department and taken to Twin Bridges Jail in Wiscasset. On Monday she was transferred to Knox County Jail pending an appearance in Knox County Superior Court.

She was accused of embezzling more than $250,000 from Industrial Marine Marketing of Saunderstown, R.I., while she worked for Affiliated Fiscal Consultants in Rockland from 1995 to 2006, according to Rockland police records.

Detective Russell Thompson of Rockland, the investigator in the case, said the owner of the Rhode Island company, Roger Smith, had removed all his records from Affiliated Fiscal Consultants after he discovered large amounts of money missing from his accounts.

Thompson, who was assisted in the investigation by Rockland police Detective Sgt. Christopher Young, said that Cole was assigned to Smith’s account when she worked for Affiliated Fiscal Consultants.

“Mr. Smith and one of his co-workers noticed large numbers of checks for $500 and $1,000 written and endorsed,” Thompson said.

“They were endorsed by a rubber stamp, and she had been told she was not to use a stamp to endorse checks,” Thompson said. “She used her name, date of birth, driver’s license and number on the endorsements.”

Thompson said he was able to track Cole down through the numbers on the checks.

The bail commissioner in Lincoln County set her $25,000 bail, Thompson said.

The arrest warrant for Cole originated in Lincoln County because she is a resident of Waldoboro. Cole was transferred to Rockland to face charges in Knox County, where the investigation of the case was based.

“She’ll be held pending making bail and an initial appearance in [Knox County] Superior Court,” Thompson said.

Cole had not made bail on Monday afternoon, according to Thompson.

gchappell@bangordailynews.net

236-4598