Former charter school founder pleads guilty in fraud case
Oct. 25, 2017
ALBUQUERQUE, N.M. (AP) — Federal prosecutors say a former school administrator has pleaded guilty to fraud, theft and other charges stemming from schemes to defraud millions of dollars from the public charter schools he founded.
The U.S. Attorney's Office in New Mexico announced the plea of 50-year-old David Scott Glasrud on Wednesday.
Glasrud will be required to pay restitution and he could face at least four years in prison under an agreement reached with prosecutors. He has yet to be sentenced.
As head administrator for the Southwest Learning Center Schools in Albuquerque, Glasrud admitted to devising various schemes to defraud the schools.
Prosecutors say at one point he used $199,000 to pay down his personal line of credit, while $50,000 was transferred into his personal bank account. Another $4,000 was spent at a casino in Las Vegas, Nevada.