SARANAC LAKE - Village police arrested a local woman Friday for allegedly stealing a combined $327,000 in cash and savings bonds from a family member over whom she had power of attorney.
Jane Carpenter, 59, of Saranac Lake, was arrested at 11:54 a.m. Friday and charged with second-degree grand larceny, a class C felony.
Police Chief Bruce Nason said the arrest was the result of an extensive investigation.
"We spent a number of hours going through documents we obtained through search warrants," Nason said. "I think we got the information about a week ago. It was reported by the person who had given her power of attorney. We got a call about it; then we had to start gathering financial and legal documents."
Using her power of attorney, Carpenter allegedly made unauthorized withdrawals from the family member's account totaling $27,000. Another $300,000 worth of U.S. savings bonds are missing, Nason said.
"She was in possession of them," he said. "We executed a search warrant in two locations, and we have another one we'll be doing tomorrow. As of this point, they are unaccounted for."
Carpenter, who works as a business professor at North Country Community College, was arraigned in village court and remanded to the Franklin County Jail in Malone in lieu of $50,000 cash bail or $100,000 bond. She was still in jail as of this morning, according to the county sheriff's office.
Nason said he didn't know if Carpenter has an attorney. She didn't have one at her arraignment Friday, he said.