Charter school founder accused of money laundering

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CHINO, Calif. (AP) — The founder of a high-performing charter school has been accused of setting up education-related entities in order to launder school funds for personal profit.

The Orange County Register reports (http://bit.ly/2gF5Cxr ) that according to an audit prepared by the Fiscal Crisis & Management Assistance Team, the founder of Oxford Preparatory Academy created a system of payments between for-profit companies staffed by families and friends that diverted public school funds to her and her associates' bank accounts.

The audit concluded by suggesting San Bernardino County of Schools Superintendent Ted Alejandre get in touch with law enforcement.

Oxford distributed a letter to parents on Wednesday saying the audit's findings are concerning and that the school has already taken steps to address problems identified in the audit.

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Information from: The Orange County Register, http://www.ocregister.com


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