SEC Settles Fraud Claims Over $25.5M Charter School Bonds

Law360 (April 28, 2020, 3:02 PM EDT) -- The U.S. Securities and Exchange Commission has settled claims against two officials for a now-bankrupt California charter school operator who allegedly concealed the schools' financial distress while raising $25.5 million in a bond offering.

Without admitting or denying the SEC's allegations, William Batchelor and John Zukoski agreed to five-figure fines and bars from participating in any more municipal debt offerings in order to resolve the enforcement action filed against them in California federal court Monday.

The agency claimed Batchelor and Zukoski, the respective former CEO and director of finance for the defunct Tri-Valley Learning Corp., signed offering documents for municipal bonds...

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