AP woman charged in embezzlement of former council member



Homer Police last week charged an Anchor Point woman with first-degree theft for taking $95,794 from her ex-boss, Matt Shadle. Police alleged that over 18 months Terry D. McCloud, 44, embezzled $29,340 in forged checks and $66,454 in unauthorized credit card transactions.

A former Homer City Council member, Shadle owns several companies, including a fishing business, a rental business and a Christmas tree business. McCloud worked as a bookkeeper for him from September 2010 to April 2012. Shadle said he found out about the embezzlement in April when McCloud confessed to him. Shadle told her she should go to the police and turn herself in. Homer Police Chief Mark Robl confirmed that McCloud came to police. It took until now to charge her because of the complexity of the case, Robl said. As of Tuesday, Robl said McCloud had not yet been arrested.

In charging documents, Homer Police Officer Ryan Browning wrote that McCloud made 466 transactions on business credit cards in Shadle’s name. Browning interviewed McCloud and said she admitted forging checks and using credit cards without Shadle’s consent or knowledge. McCloud said she was angry at Shadle for degrading her during her employment and not treating her well, Browning wrote. McCloud didn’t know what she did with the cash and Browning said she didn’t have any bank accounts.

Shadle said he paid McCloud on time and thought she was happy in her job.

“When something like this happens, you just really scratch your head and wonder why,” he said.

Shadle said McCloud wasn’t a signer on any checking accounts and wasn’t authorized to use any credit cards. He said it appeared McCloud used a dormant bank account to deposit money into without Shadle’s knowledge. He didn’t know how she set up a credit card account in his name.

McCloud was pretty much in control of Shadle’s accounts, Robl said.

“He put a lot of trust in her and she violated that trust,” Robl said.

“I think this is a classic case where you should never put too much trust in one employee. Whatever your system is, it’s got to have checks and balances so that somebody is checking someone else’s work, especially when it comes to handling large amounts of money.”

Shadle said he travels a lot and had been out of town and wasn’t watching his mail.

“The lesson learned is, when you’re in business, and you own the business, you should always open up your own mail, and you should keep a tight rope and a good pair of eyes on every credit card statement,” Shadle said.

Michael Armstrong can be reached at michael.armstrong@homernews.com.

More in News

The 2021 elections will be held Oct. 5.
Kenai Peninsula Borough School Board Q&A

On Tuesday, Oct. 5, elections will be held for Homer City Council,… Continue reading

The 2021 elections will be held Oct. 5.
Kenai Peninsula Borough Assembly Q&A

On Tuesday, Oct. 5, elections will be held for Homer City Council,… Continue reading

The 2021 elections will be held Oct. 5.
Homer City Council candidate Q&A

On Tuesday, Oct. 5, elections will be held for Homer City Council,… Continue reading

Traffic moves north along the Sterling Highway shortly after a fatal crash closed the highway for several hours Wednesday, Feb. 24, 2021. The state is seeking federal funding for a project aimed at improving safety along the Sterling Highway between mileposts 82.5 to 94, or between Sterling and Soldotna. (Photo by Erin Thompson/Peninsula Clarion)
State looks to federal funding for Sterling Highway project

The project is aimed at improving highway safety between Sterling and Soldotna.

Ethan Benton (left) and Laura Walters of Kodiak win the vaccine lottery for the Alaska Chamber's week one vaccine lottery giveaway "Give AK a Shot." (Screenshot)
State names winners in 1st vaccine lottery

A Valdez and Kodiak resident took home checks for $49,000 each.

Ashlyn O’Hara/Peninsula Clarion
A podium marks the beginning of a StoryWalk at Soldotna Creek Park on Tuesday, June 29, 2021 in Soldotna, Alaska. The project was discontinued in August due to vandalism.
Vandalism ends Soldotna library program

The StoryWalk was made possible by a $2,500 donation from the Soldotna Library Friends.

Juneau Empire file
The Coast Guard medevaced a 90-year-old suffering stroke-like symptoms near Ketchikan aboard a 45-foot response boat-medium like this one, seen in Juneau, on Thursday, Sept. 16, 2021.
Coast Guard medevacs man from yacht near Ketchikan

The 90-year-old suffered symptoms of a stroke.

James Varsos, also known as “Hobo Jim,” poses for a photo during the August 2016, Funny River Festival in Funny River, Alaska, in August 2016. (Peninsula Clarion file)
‘Hobo Jim’ opens up about recent terminal cancer diagnosis

Varsos was named Alaska’s official “state balladeer” in 1994.

Most Read