L.A. NOW

Southern California -- this just in

« Previous Post | L.A. NOW Home | Next Post »

Former principal pleads not guilty to embezzling $1.4 million from Valley charter school

The former principal of a Los Angeles charter school pleaded not guilty Friday to embezzling more than $1.4 million from the school, authorities said.

A grand jury last month indicted Edward Peter Fiszer, 40, on 31 counts of embezzlement, money laundering, forgery and tax fraud.

Fiszer allegedly withdrew the money in 2008 and 2009 by writing two dozen cashier checks from the NEW Academy Canoga Park charter school and depositing the cash in a personal stock trading account, the Los Angeles district attorney’s office said.

The case stems from an audit earlier this year by the Los Angeles Unified School District’s inspector general, which found the alleged theft or misuse of as much as $2.7 million by Fiszer, the school’s founding principal.

NEW Academy Canoga Park opened in 2005. It used the novel approach of raising private and public money to combine the school with low-income housing.

The stinging audit led Los Angeles schools Supt. Ramon C. Cortines to move to close the school. A final decision by the district is pending.

Fiszer was arrested Oct. 4 in New Jersey and brought back to Los Angeles on Thursday by police. He is being held on $1.4-million bail. He faces up to 44 years in prison if convicted.

-- Mike Anton

 
Comments () | Archives (5)

disgusting...

Why is anyone surprised? That's how charter schools were all founded. By individuals who paid themselves first, upfront with a big paychecks then continued it every year, some of them just for being on the 'board of directors' of the school. Taxpayers voted this in and allowed it to happen.

This is not the first or the last time this will happen.

Take notice charter schools, Oversite is coming.

Eddie used to be a great guy. He's a long-lost friend who became a very different person over 15 years ago. How far he's apparently fallen...

Publicly funded yet privately managed – Charter School fraud is an easy concept. Charters can be succesful it depends on the “agenda” of the the managing company. Accountability has not caught up to the growth of the Charter movement. In the USA we have an Islamic Imam – Fethullah Gulen (Gulen Movement) that manages over 130 US Charter schools they have taken over $1 billion in Educational monies in the last 10 years and are growing like rapid fire.
In Los Angeles / California the Schools are: Magnolia Science Academys, Bay Area Technology Schools and Pacific Technology.
The Gulen schools have a network of foundations and instutitions layered over the schools and much of our educational money is going to non-educational expenses such as: Turkish Olympiads, trips to Turkey for the students and local politicians, H1-b Visas of over 2,000 uncredentialed teachers from Turkey (while American teachers are handed pink slips) this money is to fuel the grand ambition of Fethullah Gulen who lives in exile (for a reason) in the Poconos, PA area with his $25 billion in wealth from inflitration in: education, media, police, poltics and military. Seems the same model works very nicely in the USA. Do your research!!!
http://www.charterschoolwatchdog.com
http://www.charterschoolscandals.blogspot.com


Connect

Recommended on Facebook


Advertisement

In Case You Missed It...

Video

About L.A. Now
L.A. Now is the Los Angeles Times’ breaking news section for Southern California. It is produced by more than 80 reporters and editors in The Times’ Metro section, reporting from the paper’s downtown Los Angeles headquarters as well as bureaus in Costa Mesa, Long Beach, San Diego, San Francisco, Sacramento, Riverside, Ventura and West Los Angeles.
Have a story tip for L.A. Now?
Can I call someone with news?
Yes. The city desk number is (213) 237-7847.

Categories




Get Alerts on Your Mobile Phone

Sign me up for the following lists: