Former Urban Prep Academies CEO indicted for embezzling more than $103,000 in school funding
A former Chicago charter school Chief Executive Officer has been indicted for allegedly taking thousands of dollars in school funds to cover expenses made on his personal credit card, the U.S. Attorney's Office Northern District of Illinois announced on Wednesday.
Timothy King, 59, was charged with two counts of federal program threat and one count of obstruction of justice.
King served as the CEO for the Urban Prep Academies, which operated three all-male charter schools in Chicago, including Bronzeville, Englewood, and downtown, which is closed.
According to the indictment, King allegedly embezzled more than $103,000, or $103,833.31 to be exact, to pay for charges made on his personal credit card in 2021 and 2022. The indictment read that Urban Prep received educational and organizational funds from Chicago Public Schools that were originally derived from the federal government.
It was further alleged that he deleted online records of three purported cash donations he had made to Urban Prep after being subpoenaed by a federal grand jury in 2022.
His arraignment in Chicago has yet to be scheduled.
In October 2022, the Chicago Board of Education revoked the charters for Urban Prep's Bronzeville and Englewood campuses. CPS took control of both campuses after allegations of financial mismanagement and sexual misconduct. King was forced out after CPS learned of a possible inappropriate relationship with a 16-year-old student. He had denied those allegations.