Charter School Treasurer Accused of Embezzling $500,000 In Federal School Funds


Investigators announced Thursday morning that the treasurer of several charter schools was charged with embezzling $500,000 in federal school funds.

Federal Prosecutors charged Carl Shye, of New Albany, with embezzling the money from the system, which includes several schools in Columbus, Watchdog 10's Paul Aker reported.

Prosecutors said that Shye embezzled money from 2005-2011. The state auditor said he found 17 instances of improper use of state money at 10 schools statewide, Aker reported. Investigators said that he took cash withdrawals.

The charges were not connected to two of the schools in Columbus at which Shye served: Patriot Prep Academy and Montessori Renaissance Experience.

The Montessori school went out of business.

“It’s fair to say that his embezzlement did contribute to the demise of these schools,” State Auditor Dave Yost said. “I can’t say that’s the only reason, but it certainly was a contributing factor.”

A mother of a student at Patriot Prep said that her school could have used the money.

“I think they can definitely use the money at this school,” the mother said.

In March, Shye voluntarily surrendered his school treasurer license, Aker reported.

Shye did not respond to Watchdog 10’s requests for comments.

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