Updated

Poughkeepsie, N.Y.-- A former Vassar College construction manager and his wife, who tooled around in BMWs and sported Rolex watches, swiped $1.9 million from the school, cops said yesterday.

Arthur Fisher, 44, and his wife, Jennifer, 38, allegedly siphoned the money from Vassar from 2008 to 2010 by opening a bank account in the name of a fake construction company, which then was issued checks for purported work done at the Poughkeepsie school, cops said.
Vassar alerted police in early March after finding cost overruns in a project, The New York Post reports.

Cops arrested the Fishers on Friday at their home, where police said they found four late-model BMWs, three Rolex watches, 10 unregistered handguns, a military-style rifle and fraudulent FEMA, US Customs, FBI, ATF, NYPD and DEA IDs with Arthur Fisher's name and photo on them.

Click here for more on this story from The New York Post.