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Sue Frank denied bond reduction in Summit County embezzlement case

Alli Langley
alangley@summitdaily.com
Sue Frank
File photo |

Sue Ann Frank, the former CEO of Summit Association of Realtors arrested recently on embezzlement charges, was denied a bond reduction Wednesday in Summit County District Court.

Roughly 30 SAR members attended Frank’s hearing to show united opposition against lowering Frank’s current $250,000 bond.

“Should the bond amount be lowered and Ms. Frank post bail, we believe she is a flight risk not only out of the local area but out of the country as well,” said Dennis Clauer, SAR board chair. “We have not received any of our funds back and don’t want to jeopardize any opportunity to receive those funds.”



Fifth Judicial District Judge Mark Thompson ruled in favor of the prosecution, which argued Frank’s bond should not be lessened by even one cent.

Thompson said Frank’s actions after she posted an initial $15,000 bond in December and was released from custody suggest that she had no intention of cooperating with authorities, who had then tracked the organization’s stolen funds to a foreign account.



“Frank had the benefit of the doubt, so to speak, when the initial bond was set,” Thompson said. “The court finds that past actions are often the best indicator of future performance.”

Frank appeared with public defender Thea Reiff, who argued that if Frank could post bond and be released she would attempt to sell her Silverthorne home to pay back the alleged thefts to SAR.

According to county records, Frank’s property in the Mesa Cortina neighborhood in Silverthorne was valued in 2014 at $490,802.

Reiff added that while in jail for the last two and a half months Frank has not had access to the mental health care professionals she had been seeing regularly.

“She has deteriorated quite a bit in her time in custody as far as her mental health goes,” Reiff said.

Timothy Fettig, of Fettig Auto Repair in Kremmling, also spoke about Frank’s home sale and mental health when he addressed Thompson in support of Frank’s release.

“She needs to get her affairs in order as far as her real estate goes,” said Fettig, a longtime friend of Frank.

If Frank could post bond she could work at Fettig’s business, he said.

Reiff also said Frank had been contacted by two men online, one through Facebook and one through Match.com, who influenced Frank’s actions and victimized her.

Deputy District Attorney John Franks argued that even if Frank was manipulated by anyone online, the only victim in this case should be SAR after Frank repeatedly stole from the organization and covered up the thefts.

“This defendant didn’t have a momentary impulsive thought of taking something like a shoplifter in a store,” Deputy District Attorney Franks said.

Frank was first arrested Dec. 2 and charged with felony theft and forgery.

According to the arrest affidavit, Frank stole more than $415,000 from the nonprofit association she led for nearly 20 years, by forging checks and making unauthorized fund transfers.

Andrew Biggin, a member of SAR’s board of directors and a past SAR president, told police he discovered Frank forged his signature on three checks totaling $232,000.

On Nov. 11, 18 and 28, Frank deposited checks for $58,000, $78,000 and $96,000, respectively, into her personal account at FirstBank in Breckenridge, according to the arrest record.

Biggin later learned from bank employees that she also deposited into her account checks on June 17, July 25, Aug. 11 and Oct. 29, totaling more than $183,000. He was first alerted to the suspicious transactions by SAR’s president, who said Frank had recently transferred $100,000 with authorization from the association’s Edward Jones account into her personal account.

Biggin told police he recognized Frank’s signature on the endorsement line. He said the memo on the checks said the funds were for personal or short-term loans, but SAR doesn’t make loans. He also told police the signature on the checks appeared to be similar to his but was not.

Frank was then rearrested Dec. 22 after her first bond was revoked when investigators found continuing steps taken after she bonded out to prevent the tracing and return of the stolen funds.

According to recent tax records, Frank pulled in an annual salary of just under $100,000, and SAR had total assets in excess of $1.4 million and about $300,000 in annual revenue.

Franks said he expects Frank to accept a plea deal, but if she does not the case would go to trial. Her next scheduled court appearance is March 16 at 9 a.m.


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