Well, That Was Fast! Charter Founder in Los Angeles Charged with Fraud

The day after the election that handed control of the Los Angeles school board to charter promoters, the head of a now-closed Los Angeles charter school was charged with embezzling $200,000.

Kendra Okonkwo, 51, was charged with misappropriation of public funds, grand theft by embezzlement, money laundering and keeping a false account, according to a news release issued by the Los Angeles County district attorney’s office. Her son, 29-year-old Jason Okonkwo, is accused of approving fake invoices to further the plot and faces the same charges, prosecutors said.

Kendra Okonkwo founded the Wisdom Academy for Young Scientists near the Watts neighborhood in 2006, but the school quickly became a target of regulators and lost its charter in 2016. She and her son were arrested in Los Angeles on Thursday morning and remain jailed in lieu of $145,000 bail, according to Deputy Dist. Atty. Dana Aratani, who is prosecuting the case.

From January 2012 to March 2014, approximately $201,000 was transferred from the school to an unnamed business run by Okonkwo, according to the district attorney’s office. The money was then transferred to her personal bank account, prosecutors said.

That’s the downside of opening schools that receive public funds without transparency or accountability.

from sarah http://ift.tt/2q9NLlD

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