Former Charter School Treasurer Charged With Embezzlement

The U.S. Attorney's Office accused Carl Shye, Jr. of overpaying himself with hundreds of thousands of dollars in federal funds intended for use at several charter schools.(Photo: Flickr)
The U.S. Attorney's Office accused Carl Shye, Jr. of overpaying himself with hundreds of thousands of dollars in federal funds intended for use at several charter schools.(Photo: Flickr)

A New Albany man who handled the books for more than a dozen Ohio charter schools is charged with embezzling more than $470,000 in federal education funds over six years.

U.S. Attorney Carter Stewart filed an embezzlement count against 57-year-old Carl Shye, Jr. in U.S. District Court on Thursday.

Shye was treasurer for former charter, or community, schools in Columbus, Youngstown and Dayton. Under Ohio law, such schools operate independently of any school district but under contract with a sponsoring entity.

State Auditor David Yost said he first spotted a pattern involving Shye from state audits. The auditor’s office issued more than $1 million in 62 findings for recovery against Shye over a decade.

Shye’s arraignment is June 21.

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