Embezzler sentenced to 18 years


Malcom: a jail bird, again. - FILE PHOTO
  • File photo
  • Malcom: a jail bird, again.
As expected, the ex-con who embezzled about $1 million from two mountain water districts was sentenced to 18 years in prison on Monday.  ("Two water districts lose $1 million," March 12, 2014)

Terry Malcom, 66, pleaded guilty on Sept. 9 to three felony counts in a plea bargain.

Malcom served time in state and federal prison in Nebraska for stealing clients' money. After he got out of prison, he came to the Pikes Peak region where he was hired to manage the Arabian Acres Water District and the Cascade Metropolitan Water District. He stole $1,154,210 from them and last month authorities said he would be ordered to pay restitution. When we inquired about his sentence, the DA's office mentioned only the prison term.

In any event, it definitely took the District Attorney's Office a long time to move on the case. Reported to that office in spring 2013, Malcom wasn't arrested until April this year, just under the two-year statute of limitations.

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