BELFAST (AP) – A 58-year-old math teacher at Belfast Area High School has been released on bail after being charged with felony theft after allegedly embezzling $150,000 from his local teachers union.

Jeffrey Olson of Searsmont, who served as treasurer of the SAD 34 Education Association for 20 years, turned himself in Tuesday at the Waldo County Jail.

Belfast Police chief Jeffrey Trafton quoted Olson as telling investigators that he had been tapping the union fund for years because of problems with the Internal Revenue Service and credit card debt.

Trafton says investigators and auditors determined that Olson took about $150,000 in union funds over the past six years but repaid about $91,000, leaving some $58,800 unaccounted for. Under the statute of limitations, theft investigations can only go back six years.

“He wasn’t just taking money out,” Trafton said. “He was also putting money back.”

Trafton said Olson had “sole control” of the teachers union funds, which were deducted from members’ paychecks in the form of dues by the SAD 34 financial office and forwarded to association officers.

“He has cooperated completely and fully with the investigation,” the police chief said.

Trafton said the case emerged after Betty Lu Brown, a secretary at the high school, was elected president of the education association in June. When bank statements addressed to the association arrived at the high school office, she opened them and discovered things “she felt weren’t right,” Trafton said.

When Brown confronted Olson about 32 checks, each for $514, that were written over a three-month period either to the treasurer or his wife, “he told her right off” what he had been doing, Trafton said.

Once the police were notified, authorities “discovered Mr. Olson had been writing checks to himself,” said Trafton. Following a forensic audit, authorities obtained a warrant for Olson’s arrest.

Olson, who had no criminal record and taught for 30 years, resigned from the school district last week. He has known since June that he was under investigation, the chief said.

“I believe he is remorseful,” Trafton said. “He is a well-known member of the community and has been a good teacher to a lot of kids for many years.”

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Information from: Bangor Daily News, http://www.bangornews.com