Courtesy of Unsplash.com
Courtesy of Unsplash.com
A founder of a Houston charter school network has been accused of improperly disclosing nearly $1 million in payments that were made to a relative's companies.
CEO and CFE of Zoe Learning Academy Richard S. Rose was arrested after a grand jury indicted him on 18 counts. Rose was accused of illegally taking money from a school and failing to disclose the payments to the Texas Education Agency, which was in direct violation of state law requiring a detailed listing of funds paid to relatives.
In addition to the $1 million paid to Rose's brother, Rose also paid approximately $60,000 to his wife and a company they owned.
Rose has been charged with money laundering, conspiracy and theft from federal funding programs.
In addition to its CEO's financial shortcomings, Zoe Learning Academy also was given a failing grade in its 2017 financial integrity rating scale, in addition to the charter district failing state academic standards in 2013, 2015 and 2017, the Houston Chronicle reported.
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