Authorities in Sarasota County arrested James Edward Hardigan, 69, of the 100 block of Torcello Court, on a warrant from Richmond, Va., in January.
Hardigan pleaded guilty in May and is scheduled back in Richmond Circuit Court on Sept. 24.
According to the Richmond Times-Dispatch, Hardigan became a professor at the School of Dentistry at Virginia Commonwealth University in 1975. In 1980, he became association dean for administrative affairs for the VCU Dental Faculty Practice Association.
In 1995, Hardigan reportedly opened an investment account under the faculty association's name and with $500,000 of the association's money.
Prosecutors claim that, when he retired in 2004, Hardigan moved $137,553 that remained in the association's account to a personal account. They say 63 cents in interest later accrued in the association's account. That eventually prompted the investment firm that still had the account to notify the association, which did not know the account existed.
An audit then turned into a police investigation, which led to Hardigan's indictment by a grand jury in January.
Hardigan reportedly still had the $137,553 and agreed to pay it back.
Yet prosecutors told the Times-Dispatch that it is unclear what happened to the rest of the money that had been in the account.
According to Sarasota County property records, in 2004, Hardigan bought a newly constructed home in Venetian Golf & River Club for $639,000.
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