LOS ANGELES (AP) — The Los Angeles Unified School District is moving to close a charter school after allegations that the former principal stole or misused up to $2.7 million.

A district audit released Monday found that the former principal of NEW Academy Canoga Park put some $1 million in school funds into his personal account, and that money was paid to a company that doesn’t exist.

No charges have been filed.

The elementary school has about 500 students. It’s run by its own board of directors under a charter with the school district.

The school now risks losing its charter, but its board chairwoman, Maggie Cervantes, says it’s doing good work and should stay open.

Cervantes says the school has been a victim of fraud, has fired the principal and is trying to recover the money.

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 This material may not be published, broadcast, rewritten, or redistributed.)

  1. William Joseph Miller says:

    I wonder what sort of kick-back Ramon Cortines received. I wonder how much of a kickback members of the Board of Education received. The current board, as well as Mayor Villaraigosa, Eli Broad, and the Gates Foundation all fervently believe that charter schools are the answer to the problem.
    Are they? The more charters that LAUSD creates, the greater amount of misuse – and when charter school operators start buying seats on the School Board – there will be no accountability.

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