The former leader of a Camden, Me., nonprofit admitted in court Friday to embezzling more than $4.6 million, the Portland Press Herald reports. Russell "Rusty" Brace, who served as president of United Mid-Coast Charities from 1999 to 2014, pleaded guilty to federal mail and tax fraud charges and was released on his own recognizance pending sentencing in September.
Mr. Brace, 81, agreed in April to pay the $4.6 million back to the charity to settle a civil lawsuit. According to prosecutors, he deposited 377 donation checks payable to United Mid-Coast into a bank account not associated with the organization and used the money for personal expenses. The 72-year-old charity, which supports social-service agencies in two Maine counties, discovered the fraud last year.