Pa. Charter School Chief Accused Of Siphoning Funds

Law360, Philadelphia (August 23, 2013, 4:13 PM ET) -- The former CEO of the Pennsylvania Cyber Charter School and his accountant were hit with a federal indictment Friday and charged with 11 counts of mail fraud, conspiracy and filing false tax returns for their role in stealing public funds. 

The indictment accuses founder and CEO Nicholas Trombetta of creating a series of connected for-profit and nonprofit entities to siphon taxpayer funds out of PA Cyber and avoid federal income tax liabilities. His certified public accountant Neal Prence was also named in the indictment.

“As the...
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