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Grayslake PTO treasurer indicted for theft

Elizabeth Bako

Elizabeth Bako

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Updated: December 24, 2012 7:09AM

The Grayslake woman accused of wiping out the Parent Teacher Organization Fund for a Grayslake school was indicted for theft Wednesday.

Elizabeth Bako, 40, is alleged to have stolen more than $10,000 from Frederick School’s PTO fund when she was the organization’s treasurer.

Somewhere between $10,000 and $100,000 was taken from the PTO’s account between April 2, 2011 and May 31, 2012, according to court records. An additional $500 to $1,000 was reported missing between April 3, 20122 and May 31, 2012, according to court records.

The PTO discovered the theft at the start of the school year in the Grayslake Grade School District 46 school.

The account had a zero balance when it should have had several thousand dollars, a source close to the school said.

The PTO fund goes toward the purchase of new library books, classroom supplies, class field trips and other projects.

Bako is accused of providing the PTO with falsified bank documents to cover up spending thousands of dollars on personal expenditures, according to a source close to the school.

She was taken into police custody Sept. 7.

She is free from custody after posting 10 percent of $2,500 bond. She is due for arraignment Dec. 5.

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