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Ex-Principal Pleads Not Guilty In $1M School Theft

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(Credit: David McNew/Getty Images)

(Credit: David McNew/Getty Images)

LOS ANGELES (AP) — The former principal of a Los Angeles-area charter school has pleaded not guilty to charges that he embezzled $1.4 million in school funds to trade on the stock market.

Deputy District Attorney Dan Baker said Edward P. Fiszer, who formerly headed NEW Academy Canoga Park, was arraigned Friday on a 31-count indictment charging him with theft by embezzlement of public funds, forgery, theft by a public officer, plus 26 counts of money laundering and two counts of state tax fraud.

The 40-year-old Fiszer, who was fired in November 2009 after the alleged theft was discovered, was arrested two weeks ago in West Windsor, N.J., and returned to Los Angeles.

He is being held on $1.4 million bail.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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