A former state representative, ex-CEO of Choctaw Electric Cooperative, and recently-resigned board member/Regent of the Regional University System of Oklahoma has been indicted on embezzlement charges related to his employment with the electric cooperative.
Terry Matlock served as a member of the state House of Representatives for more than a decade from 1990-2002. He left the state legislature and assumed the position of CEO of Choctaw Electric Cooperative, based in Hugo. Matlock remained at the co-op until 2014, when he was fired amid allegations of embezzlement.
However, despite the investigation, he retained his appointed position as a member of the governing board for Oklahoma's public regional universities until July 16, when his indictment was revealed and he tendered his RUSO board resignation to Governor Mary Fallin.
The indictment accuses Matlock of embezzling from the co-op from 2008 through 2014. He is charged with nine felony counts of embezzlement, two misdemeanor counts of embezzlement and one felony count of engaging in a pattern of criminal offenses.
The allegations claim that the former state representative used electric co-op employees to perform work on his personal property, and that he used a co-op credit card for up to $70,000 in personal expenses.
In November 2008, Matlock reportedly used nearly $65,000 in co-op funds to purchase two John Deere tractors and attachments for his personal use. Additionally, he used allegedly used co-op funds to repair and refurbish a 1980 Ford Bronco he owned, spending nearly $6,000 in repairs between 2008 and 2009.
When the allegations surfaced in 2014, angry Choctaw Electric Cooperative customers issued a petition to oust the cooperative's board members. Nearly all board members resigned in the face of the recall petition.
In Oklahoma, embezzlement is charged as either a misdemeanor or felony, depending on the value of money or property involved. In this case, Matlock faces 11 embezzlement counts, including two misdemeanors and nine felonies. If convicted, he faces up to 51 years in prison and more than $75,000 in fines.
The state penalizes embezzlement as follows, according to 21 O.S. 1451:
1. If the value of the property embezzled is less than Five Hundred Dollars ($500.00), any person convicted shall be punished by a fine not exceeding One Thousand Dollars ($1,000.00), or by imprisonment in the county jail for a term not more than one (1) year, or by both such fine and imprisonment;
2. If the value of the property embezzled is Five Hundred Dollars ($500.00), or more but less than One Thousand Dollars ($1,000.00), any person convicted shall be guilty of a misdemeanor and shall be punished by imprisonment in the county jail for not more than one (1) year or by imprisonment in the county jail for one or more nights or weekends pursuant to Section 991a-2 of Title 22 of the Oklahoma Statutes, at the discretion of the court, and shall be subject to a fine not exceeding Five Thousand Dollars ($5,000.00), and ordered to pay restitution to the victim as provided in Section 991f of Title 22 of the Oklahoma Statutes;
3. If the value of the property embezzled is One Thousand Dollars ($1,000.00) or more but less than Twenty-five Thousand Dollars ($25,000.00), any person convicted shall be guilty of a felony and shall be punished by imprisonment in the custody of the Department of Corrections for a term of not more than five (5) years, and a fine of not exceeding Five Thousand Dollars ($5,000.00), and ordered to pay restitution to the victim as provided in Section 991f of Title 22 of the Oklahoma Statutes; or
4. If the value of the property embezzled is Twenty-five Thousand Dollars ($25,000.00) or more, any person convicted shall be guilty of a felony and shall be punished by imprisonment in the custody of the Department of Corrections for a term of not more than ten (10) years, and a fine not exceeding Ten Thousand Dollars ($10,000.00), and ordered to pay restitution to the victim as provided in Section 991f of Title 22 of the Oklahoma Statutes.
If you are accused of embezzling money or property, you need prompt legal representation. Call 405-417-3842 to schedule a free, confidential review of your case.
