|Feds charge Pennsylvania cyber charter school founder in fraud|
|Written by JOE MANDAK, Associated Press|
|Friday, 23 August 2013 11:08|
PITTSBURGH (AP) — The founder and former CEO of a cyber-charter school that educates more than 11,000 Pennsylvania students has been indicted by a federal grand jury.
Fifty-eight-year-old Nicholas Trombetta is accused of siphoning more than $8 million from the school through a network of profit and non-profit companies he controlled.
Trombetta surrendered to authorities Thursday night on the charges announced Friday by federal authorities.
Trombetta allegedly bought a $1 million Florida condominium and houses for his girlfriend and mother, along with nearly $1 million on personal expenses, including groceries.
Trombetta and his lawyer did not immediately return calls seeking comment about the charges.
Prosecutors allege Trombetta tucked most of the money in a shell company for his retirement.
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