Updated: 3:16 PM EDT April 27, 2021
The founder of a national charter school network who once served as a White House adviser under President Barack Obama was arrested Tuesday on charges alleging he stole over $200,000 from the network and used it to get a better interest rate on a multimillion-dollar apartment.
Seth Andrew, founder of Democracy Prep, was arrested in Manhattan on wire fraud, money laundering and false statement charges.
Attorney Michael Yaeger said Andrew, 42, will plead not guilty to the charges. We re reviewing the papers that were just unsealed this morning, Yaeger said in an email.
Andrew awaited an initial appearance in Manhattan federal court.
Ex-White House adviser charged in $200K theft from schools
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Seth Andrew, ex-Obama adviser, charged in $200,000 theft from schools
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Former Obama White House adviser arrested for allegedly stealing over $200,000 from charter schools he founded
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Updated Dec 11, 2020 at 11:34 p.m. UTC
FinCEN Encourages Banks to Share Customer Information With Each Other
A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers.
The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued a fact sheet Thursday spelling out that the 2001 Patriot Act gives institutions wide latitude in what kind of information they are permitted to share.
Overall, the sheet seemingly lowers the obstacles for further sharing of personal customer information among banks, the threshold of what qualifies as “suspicious” activity and whether the entities sharing customer information even need to be financial institutions.