Timothy King, Misappropriating Funds, Illinois 2022
Former CEO of Chicago Charter School Network Charged with Misappropriating $103,000
CHICAGO — A federal grand jury in Chicago has indicted Timothy King, the former Chief Executive Officer of Urban Prep Academies, for allegedly misappropriating more than $103,000 in funds intended to support the non-profit’s educational work.
According to the indictment, King embezzled $103,833.31 from Urban Prep to pay for his personal credit card charges in 2021 and 2022. The indictment further alleges that after receiving a federal grand jury subpoena and learning of the criminal investigation in 2022, King obstructed justice by deleting online records of three purported cash donations he had made to Urban Prep.
The indictment charges King, 59, of Chicago, with two counts of federal program theft and one count of obstruction of justice. Each count of federal program theft is punishable by up to ten years in federal prison, while the obstruction count is punishable by up to 20 years.
The indictment was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and other officials. The government is represented by Assistant U.S. Attorneys Prashant Kolluri and Sean Hennessy.
The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
Urban Prep Academies, a not-for-profit corporation, operated three charter schools in Chicago and received educational and organizational funds from Chicago Public Schools that were originally derived from the federal government. King served as CEO of the non-profit corporation.
Arraignment in U.S. District Court in Chicago has not yet been scheduled.
Key Facts
- State: Illinois
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →