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One Bad Apple Can Ruin Your School District’s Finances and Reputation

One Bad Apple Can Ruin Your School District’s Finances and Reputation

February 20, 2019: A former chief financial officer pleaded guilty to 20 federal counts of embezzlement, wire fraud, and money laundering over a 16-year period after stealing $1.2 million from his former employer. This CFO oversaw all of the employer’s finances, including a nearly $260 million general fund, and misspent $46 million of the fund balance.