Calhoun to be sentenced Wednesday
Former SSP Credit Union Treasurer Douglas Calhoun, Russell, Ky., will appear in Lawrence County Common Pleas Court at 8:45 a.m. Wednesday for sentencing on 13 counts of theft and grand theft.
"We are asking that the court give him the maximum sentence of five years,"
Lawrence County Prosecutor J.B. Collier Jr. said. "It is probably not enough for this type of crime, but the maximum he can be charged with is a third degree felony which carries a five years sentence."
Although he may be sentenced five years per charge, the prison time probably will be served concurrently. The nature of the crime dictated the prosecutors office's hard position on the case, Collier said.
"It is not just the amount of money that was stolen but the betrayal of trust as well," he said "We are hopeful that people who have been affected will show up and be given the opportunity to address the court."
South Point resident Betty Hughes and her husband were members of the credit
union for about five years and have attended all the hearings but one.
"We were really affected," she said. "My husband had known Doug Calhoun for many years and Doug had even worked for him once."
They never dreamed that their money was not safe and were enticed by the 8 percent interest that was offered, she said.
American Share Insurance company has encouraged all former members of the credit union to attend the hearings and file victim impact statements.
ASI logged more than 3,000 hours on the case and paid out $3.8 million to date that included interest that would have accumulated.
Appearing before Judge Frank McCown last month, Calhoun pleaded guilty to all charges in connection with $1 million missing from the now-liquidated credit union.
Calhoun pleaded guilty to one count of theft, a class-five felony with a maximum sentence of 12 months; two counts of aggravated theft over $100,000, class-three felonies with five-year maximum sentences; and 10 counts of grand theft of amounts between $5,000 and $100,000, class-four felonies with a maximum sentence of 18 months.
The thefts took place between Jan. 1, 1990 and May 17, 2002.
Originally, Calhoun was arrested May 18 on charges of theft by deception but was released on $100,000 bond.