Former Charter School Executive Director Pleads Guilty in Fraud Scheme
Former St. Louis College Preparatory (SLCP) charter school executive director Michael Malone pled guilty today in federal court to three counts of wire fraud related to a multi-million dollar scheme involving state education funds. Malone intentionally over-reported student attendance information so that SLCP received more state and federal funding than it was due. Sentencing information for Malone’s charges is forthcoming. Each charge of wire fraud carries a maximum possible penalty of twenty years imprisonment, a fine of $250,000 or both.