Ex-treasurer charged with embezzling taxpayer money from charter schools

Carl Shye, Jr., a former treasurer for charter schools in Columbus, Ohio, was recently charged with embezzlement of federal funds.

Based on an investigation conducted by the Ohio Auditor of State and the FBI, Shye is accused of embezzling over $470,000 of federal funds from 10 Ohio charter schools.

The embezzlement was carried out over a six-year period, from 2005 to 2011. According to WCMH-TV, the State's findings can show problems with Shye even before 2005. A recovery audit by the auditor's office revealed 62 findings of embezzlement over the past ten years, which total over $1 million, reports the news station.

State Auditor David Yost first alerted the FBI to the suspicious activity in February 2011, when he noticed questionable bookkeeping, cash withdrawals and lax documentation. Yost released audits for several schools affected by the embezzlement, and found that Shye owes more than $95,000 to those schools alone.

Shye could face up to 10 years in prison and a fine of $250,000. WCMH-TV states that a plea deal is being worked out and Shye's arraignment will take place June 21.

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