Missouri City man sentenced for charter school embezzlement scheme
A Missouri City resident who founded a charter school will serve three years in federal prison for illegally using the school’s money to pay for personal expenses, according to the U.S. Attorney’s Office.
A federal judge this week sentenced Richard Rose, 65, of Missouri City, to 36 months in prison and ordered him to repay more than $335,400 in restitution, according to a news release. Rose pleaded guilty in August to conspiracy to commit mail fraud as part of a plea agreement.
Rose founded and served as superintendent, CEO and CFO for the now-shuttered Zoe Learning Academy in Houston during its operation from 2001 until it closed in September 2019, according to the release.
Rose in his plea agreement acknowledged that he filed falsified reports in the mail to obtain funding for the charter school, and that he embezzled funds meant for the school’s operation and instead used them to pay legal fees, a lawsuit settlement and in the purchase of a timeshare, according to the release.
Read more: https://www.fortbendstar.com/countynews/missouri-city-man-sentenced-for-charter-school-embezzlement-scheme/article_7f5c49ba-5393-11ec-a81e-1fcf570c28f3.html