Online Charter Schools in L.A., San Diego Counties to Close After Conspiracy, Personal Use of Public Money, Theft Indictment
Eleven people have been indicted on criminal charges of conspiracy, personal use of public money without legal authority, grand theft and financial conflict of interest in connection with a network of California charter schools.
At the center of the allegations are leaders of the charter school management corporation A3 Education, a Newport Beach firm whose leaders control 13 charter schools across the state, according to an indictment filed May 17.
A3’s chairman, Sean McManus, and president, Jason Schrock, essentially owned and operated the charter schools at the same time that A3 contracted with those schools, according to the indictment.
McManus and Schrock operated multiple businesses that charged their own charter schools millions of dollars for services. Then they channeled money from those businesses into their own charitable trust and personal bank accounts, according to the indictment.
Read the full story on LATimes.com.
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