Former Employee Defrauded Claremont Colleges Out of $1 Million

Tranquada Student Services Center. Photo credit: Sdkb.

A Santa Clarita man pleaded guilty on Wednesday to embezzling over $1 million from the Claremont Colleges, where he was employed as an electrical shop supervisor. 

Steven Anthony Cowles, 45, faces one count of wire fraud, encompassing over 1,343 unauthorized transactions amounting to approximately $1,000,571. He began working for the Colleges in 2015 and oversaw the maintenance of electrical components across the seven Claremont campuses. 

“The Claremont Colleges uncovered financial misconduct involving a former employee. The employee was terminated, and we engaged forensic accountants to review the situation thoroughly and notified law enforcement,” The Claremont Colleges Service said in a statement to the Independent. “The matter is now the subject of a federal criminal case against the former employee, and we continue to cooperate fully with law enforcement.”

Cowles mislabeled personal items as legitimate electrical purchases in invoices and transferred funds from College-provided credit cards to personal PayPal accounts, according to court documents. 

The statement provided to the Independent asserted that the Colleges’ “insurance coverage has absorbed the financial loss associated with this misconduct, and there is no need to restate [their] financial statements,” and that efforts have been made to ensure the colleges are protected from future threats. These efforts included “revised purchasing policies, strengthened oversight and reporting procedures, mandatory training, and new system safeguards.”

Cowles’ sentencing hearing is scheduled for April 22, 2026. He faces up to 20 years in federal prison.