Brown Bursar Steals College Pension Funds

Lester L. Lapham, assistant treasurer and bursar of Brown University for 27 years, has been arrested and charged with embezzling $15,000 in university funds.

Lapham, who was discharged in August when Brown officials became suspicious, admitted to Detective James J. Healey that he had been using the funds for private purposes. However, Lapham's only comment when asked what he did with the money was that he had been "living well."

The shortages, which occurred in the pension fund, were discovered during an audit.