Update: Water manager pleads guilty to felony theft charges - KOAA.com | Continuous News | Colorado Springs and Pueblo

Update: Water manager pleads guilty to felony theft charges

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Terry Malcom, the former water manager of the Cascade and Arabian Acres Metro Districts pleaded guilty Wednesday to three counts of felony theft.

News5 began investigating Malcom after a viewer in Florissant contacted us believing Malcom had stolen up to $250,000 from their district.

The Fourth Judicial District Attorney’s Office filed formal charges against Malcom in March 2015.

Malcom admitted in court he embezzled more than $1 million between 2007 and 2013.

Malcom’s attorney, Mathew Werner offered a plea agreement which would allow his client to serve three consecutive six-year terms in prison. Malcom would also have a five-year parole period and pay back more than $1 million in restitution.

If he were to go to trial and be convicted, Malcom would have faced 24 years in prison for each felony charge.

He will be formally sentenced Nov. 30. 

You can read our past news coverage on this case here.

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