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Charter School CEO Guilty of Tax Fraud

charter-school-ceo61-year-old Nicholas Trombetta of East Liverpool, Ohio has recently admitted that he abused the system and stole funds meant for students and their education.

As CEO of the Pennsylvania Cyber Charter School, Trombetta created a series of for-profit and not-for-profit entities that he used to siphon off more than $8 million in taxpayer funds and to avoid income tax liabilities.

As a public institution, the school is funded by federal, state, and local tax revenues.

Indicted in 2013, Trombetta ran the tax evasion scheme from 2006 through 2012. The school had more than 11,000 students when he was charged. According to prosecutors, Trombetta used some of the money to buy a $933,000 condominium in Bonita Springs, Florida. He also purchased houses for his girlfriend and mother. Additional expenditures included a $300,000 airplane, and approximately $990,000 more on “groceries and other items.” The bulk of the money was placed in a shell company for his retirement.

Trombetta pleaded guilty to a charge of tax conspiracy and awaits sentencing. He faces up to five years in prison.