COLUMBUS, Ohio (AP) — A former treasurer to more than a dozen Ohio charter schools soon learns his fate in an embezzlement scheme involving some $470,000 in federal education funds taken from four schools over six years.
Carl W. Shye Jr., of New Albany, pleaded guilty in federal court in June. The 57-year-old was due back in U.S. District Court Judge Gregory Frost's courtroom Wednesday.
Shye agreed in a plea deal to pay nearly $672,000 in civil findings, forfeit his CPA license, and continue cooperating with the government investigation.
The FBI says Shye accessed the money in a variety of ways, including writing checks over contract amounts, beefing up salary checks, and loaning money from one school to another then pocketing repayment.
Shye faces up to 10 years in prison and $250,000 in fines.