Thursday, June 6, 2013

Former Bookkeeper At Upstate New York Charter School Sentenced For Embezzling More Than $200K

From the Troy Record on 6/5/13:

A bookkeeper at an Albany charter school will spend at least five years behind bars for embezzlement after his sentencing Tuesday.

Ronald Racela, 49, received a sentence of 5 to 10 years behind bars for stealing more than $200,000 from the Brighter Choice Charter School where he worked as chief financial officer.

Racela’s sentencing Tuesday came after he pleaded guilty in March to one count of grand larceny.

Between September 2011 and December 2012, Wise’s investigation revealed that Racela made a series of improper payroll entries to himself for a total of $208,837.45.

The inquiry also revealed that Racela had been on felony probation for a separate financial crime at the time he committed the fraud. Officials at Brighter Choice were unaware of his criminal background when he was hired as CFO.

Racela must also pay $174,400.08 in restitution.

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