Florida: Charter School Closes, Leaving Behind Academic Failure and Mountains of Debt

Another day, another charter scandal. This one is in Lauderhill, Florida, in Broward County.

“LAUDERHILL, Fla. – The Paramount Charter School was, by all accounts, a disaster for its young students, but now that the publicly financed, F-graded K-8 school is closed, there is a big question that remains: Where did the money go?

In all, taxpayers coughed up more than $3 million for the charter school in Lauderhill, which promised a first-rate education for its predominantly financially disadvantaged students.

“Now American Charter Development, the Utah-based charter school company that was Paramount’s landlord and primary investor, alleges it lost well over $1 million during the two years the school was in operation and suspects public funds were misappropriated.

“In our view, there’s been fraud,” Rob Giordano, senior vice president of business development at American Charter Development, told Local 10 News.

“Giordano said the company conducted its own examination of the school’s finances and found that, in addition to a nonprofit company that had been set up to run the school, called the Advancement of Education in Scholars Corp., there was a second for-profit company formed with an almost identical name.

“Giordano said his firm obtained Paramount bank documents showing large sums of money going to the for-profit company.

“It was tens of thousands of dollars in excess of $30,000 a month going to this shell organization,” Giordano said.”

Not to worry. This failed “public charter school” will be replaced by another. The taxpayers’ money? It’s gone, along with the time that children lost in this school.

from novemoore http://ift.tt/2w0idW3

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