Feds: Company Stole $2.4M from Fraternities, Sororities

Updated Apr 8, 2016

LEHIGH, Pa. — Federal prosecutors say a Pennsylvania company set up to provide food and management services to fraternities and sororities at Lehigh University defrauded them of more than $2.4 million so the co-owners could take fancy vacations and shop at high-end department stores.

A grand jury indicted 76-year-old Albert Fisher, of Quakertown, on Thursday on charges including wire fraud and conspiracy.

Fisher and his wife ran Fraternity Management Association, which provided services to 20 of Lehigh’s fraternities and sororities.

The wife’s attorney, John Waldron, tells the (Allentown) Morning Call his client was the initial target of the investigation but took her own life in February.

Between 2009 and 2014, the indictment says the couple spent the company’s money on a cruise and shopping sprees at stores like Saks Fifth Avenue and Neiman Marcus.

A call to Fisher’s attorney wasn’t returned. A spokesman at Lehigh didn’t return a message seeking comment.