ASA Property Management (Photo/KVRR)
FARGO (KFGO) – A federal grand jury has indicted a Fargo woman, claiming she stole more than $1 million from a property management company where she worked.
Cherie Sager, 59, is charged with three counts of bank fraud and one count of access device fraud.
Court records filed in U.S. District Court say Sager worked for ASA Property Management since its inception in 2010. She was responsible for accounting, including accounts payable, accounts receivable and payroll.
The indictment says, between March 2018 and October 2024, Sager misappropriated $1,085,356 from ASA Property Management by drafting hundreds of unauthorized checks and withdrawing cash from ATMs.
One of the company owners asked Sager about withdrawals from an escrow account in November 2024. She admitted to it, but claimed she used the wrong card.
Investigators say Sager made approximately 614 withdrawals from ASA accounts between March 2018 and October 2024.
Over the course of the fraud scheme, Sager is accused of drafting unauthorized checks payable to herself, her husband, Property on First, LLC, and Fargo Public Schools Federal Credit Union.
Property on First, LLC owns the building rented by ASA and Sager was the registered agent. She was also an authorized user and signer on five bank accounts belonging to Property on First, LLC.
Court records say many of the checks to Property on First, LLC were deleted or modified in ASA’s system so there was no apparent record of the payments being made.
Several of the checks appeared as duplicate rent payments, so ASA appeared to pay rent twice over several months.
ASA did not have any accounts at Fargo Public Schools Federal Credit Union, but Sager and her husband had personal accounts there.
Sager was fired from ASA Property Management on December 6, 2024.
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