Sunday, May 26, 2013 | 5:01 a.m.
Hi, (not you?) | Member Center | Sign Out
Posted: 4:51 p.m. Wednesday, Oct. 31, 2012
comment(2)
Staff Writer
COLUMBUS —
A former school treasurer was sentenced to two years in prison on Wednesday for stealing more than $470,000 in federal education funds from four since-closed charter schools, including three in Dayton.
Carl W. Shye Jr., 57, of New Albany, tearfully apologized during his sentencing in U.S. District Court and others offered favorable testimonials, including from former associates of the schools. Shye handled the finances of more than a dozen former charter schools in Columbus, Dayton and Youngstown.
Besides the prison term, Shye got three years probation and is required to repay the money he stole. He has forfeited his CPA license.
An FBI investigation found Shye got access to the money in a wide variety of ways between 2005 and 2011, including changing his contract without telling his bosses, making loans to another school and then pocketing the money when the loan was paid back and falsely reporting services that never happened.
He also wrote himself checks, sometimes forging the signatures of other school officials.
Shye in July pleaded guilty to stealing the following amounts from these former Dayton schools: George Washington Carver Preparatory Academy ($114,000); NuBethel Center of Excellence ($56,000); and New City Community School ($26,000).
Shye also stole $276,000 from Legacy Academy for Leaders & Arts in Youngstown, according to federal officials.
Investigators continue to look into whether Shye engaged in similar activities in schools in other areas, and whether other employees of the schools might have been involved.
Ohio Auditor Dave Yost issued a statement about Shye’s prison sentence after the court hearing. In the past 10 years, the state has issued 62 findings for recovery against him totalling more than $1 million.
“Apart from the obvious exception of violence, there is no worse crime than what Carl Shye did. He abused a position of trust,” Yost said. “His actions not only took resources away from the students in the schools where he took advantage, he damaged a great program in the minds of Ohio parents and taxpayers alike.”
The Associated Press contributed to this story
comment(2)
Inside Dayton Daily NewsFollow & ShareGeneral InformationAdvertisers & SponsorsOur Partners |
© 2013 Cox Media Group. By using this website,
you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices
.
Already have an account? Sign In
{* #registrationForm *} {* traditionalRegistration_displayName *} {* traditionalRegistration_emailAddress *} {* traditionalRegistration_password *} {* traditionalRegistration_passwordConfirm *}Already have an account? Sign In
{* #registrationFormBlank *} {* registration_firstName *} {* registration_lastName *} {* traditionalRegistration_displayName *} {* traditionalRegistration_emailAddressBlank *} {* registration_birthday *} {* registration_gender *} {* registration_postalZip *} {* traditionalRegistration_passwordBlank *} {* traditionalRegistration_passwordConfirmBlank *} {* agreeToTerms *}We have sent you a confirmation email. Please check your email and click on the link to activate your account.
We look forward to seeing you frequently. Visit us and sign in to update your profile, receive the latest news and keep up to date with mobile alerts.
Don't worry, it happens. We'll send you a link to create a new password.
{* #forgotPasswordForm *} {* forgotPassword_emailAddress *}We have sent you an email with a link to change your password.
We've sent an email with instructions to create a new password. Your existing password has not been changed.
To sign in you must verify your email address. Fill out the form below and we'll send you an email to verify.
{* #resendVerificationForm *} {* resendVerification_emailAddress *}Check your email for a link to verify your email address.

You're Almost Done!
Select a display name and password
{* #socialRegistrationForm *} {* socialRegistration_displayName *} {* socialRegistration_emailAddress *} {* traditionalRegistration_password *} {* traditionalRegistration_passwordConfirm *}Tell us about yourself
{* registration_firstName *} {* registration_lastName *} {* registration_postalZip *} {* registration_birthday *} {* registration_gender *} {* agreeToTerms *}