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A solid foundation of trust established between brothers is vital to the success of a fraternity, and the member that probably bears the most burden of trust is the chapter treasurer. I mean, you’re trusting an ostensibly broke college kid with some serious cash and hoping he doesn’t just run off to Vegas and put it all on black. Many wield that power responsibly, but a shameless few, like University of Oklahoma student and Alpha Sigma Phi treasurer Jacob Stephens, (allegedly) steal $32,000 and deserve a swift, hard (alleged) kick in the dick.
Fraternity brothers said Jacob Stephens was a trusted member of the chapter, made treasurer soon after joining.
“He had been a national merit scholar and was really into his studies the first semester I ever met him when he was a freshman,” said Matthew Mullins.
I’m not entirely sure why this dude was considered a “trusted member of the chapter” when he was also known to be “really into his studies,” particularly during his first semester of freshmen year. A guy who, as soon as he becomes unshackled from the restraints of a life with mom and dad, becomes more concerned with hitting the books and scheming behind closed doors than partying balls with his new friends should set off all sorts of red flags. Unfortunately, he did not.
But, in the spring of 2017, some of his brothers discovered something alarming about their bank account.
“Trying to understand what had happened to our bank account, why it didn’t have any money in it left,” Mullins said.
Members looked at photocopies of the checks issued over the past two years.
“We noticed that Jake Stephens had been writing checks to Jake Stephens for large sums of money,” Mullins said.
The affidavit also said he was making unauthorized transactions at the Republic Bank & Trust in Norman, where the fraternity’s account was located. In all, he was found to have allegedly stolen about $32,000.
It’s hard to not feel intense secondhand rage after reading this story. But wait, it gets worse.
“All the money that kids saved up over winter break, working or their parents had put aside for them,” Mullins said.
When they confronted Stephens about the money, they said he acted confused and denied it.
“He and his girlfriend said that someone else must have been forging all those checks,” Mullins said.
But, according to the affidavit, the checks issued by Stephens were deposited into his Capital One, N.A. account.
The night they confronted him, his brothers said he disappeared and hasn’t been seen since.
“I felt pretty betrayed,” said fraternity brother Collin Kennedy.
With no money, the fraternity chapter was forced to cancel the remaining events for the year.
Not only did this dude (allegedly) steal thousands of hard-earned dollars, but he also (allegedly) caused the cancellation of several months worth of fraternity events, a fate that’s usually dealt out to houses facing social probation or suspension. And for anyone who’s had to deal with such a fate, it’s like being told as a small child that Halloween, Christmas, and your birthday have all been cancelled.
So, while I’m sure this Jacob guy will eventually turn up and face the music the boring, legal way, if he were a real man? He’d turn himself in to his Alpha Sig brothers first and accept a healthy helping of old-fashioned street justice..
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