Sunday, May 3, 2020

California: Charter Leaders Charged with Breaking Securities Law; No Criminal Charges | Diane Ravitch's blog

California: Charter Leaders Charged with Breaking Securities Law; No Criminal Charges | Diane Ravitch's blog

California: Charter Leaders Charged with Breaking Securities Law; No Criminal Charges


As the old saying goes, better to steal a million dollars than to steal a loaf of bread. The former is smart thinking, the latter is a crime.
When you read this story, you realize what clever guys they were to figure out such a complex scheme. You have to be an accountant to follow the money.
The U.S. Securities and Exchange Commission has charged former CEO of the Tri-Valley Learning Corporation, Bill Batchelor, with allegedly misleading investors when acquiring a $25 million bond for Livermore charter schools.


Batchelor and John Zukoski, the former director of finance for the schools, were charged with a violation of the antifraud provision of the Securities Act of 1933. They were accused of helping prepare and sign a bond-offering document of $25.54 million to fund the purchase and renovation of a Livermore building to house two CONTINUE READING: California: Charter Leaders Charged with Breaking Securities Law; No Criminal Charges | Diane Ravitch's blog