Student Bike Club Stole Skidmore College's Money

Police: Bicyclists Defrauded College

Three students who are part of the Cycling Club at Skidmore College were charged this week with giving the university fake expense reports for reimbursement and stealing the campus' money.

The students were said to have turned in $4,997.92 worth of fake reports between April 2006 and May of this year. The fake expenses were said to be fraudulent food receipts, race fee receipts and mileage reimbursement requests.

The students face charges of third-degree grand larceny. Lance Armstrong was not said to be involved with the theft.