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Former charter school principal pleads guilty to embezzling funds

The former principal of NEW Academy Canoga Park charter school has pleaded guilty to embezzlement, the Los Angeles County district attorney's office said in a statement Wednesday.

Edward Peter Fiszer, 40, pleaded guilty to one count of embezzlement by a public officer and admitted that the dollar-value exceeded $1.3 million, the statement said. Fiszer was immediately sentenced to five years in state prison by Los Angeles County Superior Court Judge Judith Champagne and  ordered to pay $1,428,485.15 in restitution to the school.

Prosecutors said Fiszer embezzled more than $1.4 million between 2008 and 2009 by obtaining nearly two dozen cashier's checks from school accounts and depositing them in an Ameritrade account to trade stocks. He was removed as principal in November 2009 after the theft was discovered.

Fiszer was arrested Oct. 4 in West Windsor, N.J., and brought back to Los Angeles by officers investigating the case, the statement said.


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Comments () | Archives (5)

Was he a White Man who molested kids ?

More than 1.4 million!!!! How much more? Where is the outcry? The bigger question is why there was NO policy in place to deter this kind of crime or to catch it in its earliest stages? More disturbing is that there was NO mention of this school being in financial trouble as a result. So, I guess those stolen funds were above and beyond what was needed to run the school. Maybe that's why the principal thought no one would catch on. With the present and future monumental budget cuts, shouldn't someone in our government be calling for an immediate investigation into charter school finances? Did anyone ask how ICEF ran out of money? Where did it all go?

Typical, many administrators mismanage school funds but not all are prosecuted. Since the amount was rather high, they had to do something.

I think 5 years in prison, full restitution and dragging you back from Jersey to face prosecution is a pretty good deterrent.

Where is he supposed to come up with this money??


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