Friday, January 22, 2021

Founder of Houston Charter accused of embezzling school funds

-

The founder of a now-closed Houston charter school network failed to properly disclose more than $1 million in payments to his brother’s companies and used taxpayer funds to cover costs associated with a timeshare in Hawaii, federal prosecutors said Wednesday.

Richard S. Rose, who served as superintendent, CEO and chief financial officer of Zoe Learning Academy, was arrested Wednesday after a grand jury returned an 18-count indictment against him. The charter school enrolled several hundred students per year at campuses in Houston’s Third Ward and Duncanville, a city south of Dallas, prior to its abrupt closure in 2017.

Rose is the fourth Houston-area charter leader in the past five years arrested on charges related to illegally taking money from a school.

The Varnett Public School founders Alsie and Marian Cluff were charged in 2015, and sentenced to prison last year for spending more than $4 million in campus funds to support their lavish lifestyle. Houston Gateway Academy Richard Garza awaits sentencing after pleading guilty in October to participating in a $160,000 kickback scheme involving an information technology contractor.

NEWSLETTER

Get our daily notification on the latest financial crimes news around the World

MUST READ

- Affiliate Products -

Advertisement
Advertisement

This Week

Enable Notifications    OK No thanks