Ex-Treasurer Pleads Guilty To Embezzlement In Ohio

Carl Shye, Jr. of New Albany pleads guilty to embezzling $470,000 from charter schools in Columbus, Dayton, and Youngstown over a six-year period.(Photo: Ohio Auditor's Office)
Carl Shye, Jr. of New Albany pleads guilty to embezzling $470,000 from charter schools in Columbus, Dayton, and Youngstown over a six-year period.(Photo: Ohio Auditor's Office)

A former Ohio charter school treasurer has pleaded guilty to embezzling more than $470,000 in federal education funds from four schools over six years.

Carl W. Shye Jr., of New Albany in suburban Columbus, entered the plea Thursday in federal court. As part of a plea deal, Shye agreed to pay nearly $672, 000 in civil findings, forfeit his certified public accountants’ license, and cooperate with the government’s ongoing investigation.

He had served as treasurer for more than a dozen charter schools in Columbus, Youngstown and Dayton. The sum cited in the government’s case against Shye was per-pupil federal funding distributed through the Ohio Department of Education to four schools that have since closed.

The 57-year-old faces up to 10 years in prison and $250,000 in fines.

 

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