Doesn't really suprise me to be honest.
While I have my faith in God and Jesus Christ our Lord (no I won't go into religion here and don't generally), having both attended a Catholic secondary school from 12 to 19 (as I went onto Sixth Form) and then worked there for a year I can say I have absolutely zero faith in the Church as an organisation.
It does seem to be somewhat self serving.
Though considering some of the really horrific acts perpetrated by Priests that have come to light in recent years this probably ranks on the scale as a relatively minor misdemeanour though it is still theft and doesn't make it right of course.
"The nuns were allegedly able to conceal their actions by depositing a number of cheques made out to the school for tuition and other fees into a separate bank account not used by the school."
So the money was just resting in their account? This has got Father Ted written all over it.
Someone call Bishop Brennan!