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Cyber fraud costs the financial services industry billions in losses each year and has been on the rise. Regulation has followed, creating risks of a different kind. This. ....
Former Bridge International Academies director charged with theft of school funds Shares Seth Andrew, who was also a senior advisor in the federal Office of Educational Technology under President Barack Obama, has been accused of wire fraud, money laundering, and making false statements to a financial institution. Seth is alleged to have wrongfully acquired more than Ksh. 21.6 million ($200,000) from his school so that he could get a better deal on an apartment. Andrew is also the former Global Director of policy and partnerships at Bridge International Academies which also operates in Kenya. “As alleged, Seth Andrew abused his position as a founder of a charter school network to steal from the very same schools he helped create,” said Manhattan U.S. Attorney Audrey Strauss in a statement. ....
Former Obama White House adviser arrested for allegedly stealing over $200,000 from charter schools he founded A former White House senior adviser for the Obama administration who helped found a network of charter schools is accused of allegedly stealing hundreds of thousands of dollars from the schools and attempting to launder the funds in order to get a lower interest rate on a mortgage for a Manhattan apartment, according to federal prosecutors. Seth Andrew was charged by prosecutors in the US Attorney’s Office for the Southern District of New York with wire fraud, money laundering, and making false statements to a bank. ....
Ex-White House Adviser Charged With Stealing From Charter Schools By
Seth Andrew, a former White House adviser and Department of Education official under President Barack Obama, was arrested Tuesday and charged with wire fraud, money laundering and making false statements to a financial institution, the U.S. Department of Justice announced. Andrew is accused of stealing $218,005 from the national charter school network he founded, according to the announcement. He allegedly used more than half of the stolen money from the network of public charter schools to secure a better interest rate on a mortgage for a multimillion-dollar Manhattan apartment. “The money he took belonged to an institution serving school-aged children,” William F. Sweeney Jr., Federal Bureau of Investigation assistant director, said in the Justice Department s press release. “Today Andrew himself is learning one of life’s most basic lessons what doesn’t belong to you is not y ....