Former CEO of cyber charter school pleads guilty to tax fraud
The former CEO of the Pennsylvania Cyber Charter School, accused of stealing some $8 million in school funds for personal use, has pleaded guilty to a charge of tax conspiracy.
Nicholas Trombetta, 61, of East Liverpool, Ohio, created a series of connected for-profit and not-for-profit entities to siphon taxpayer funds out of PA Cyber and to avoid federal income tax liabilities.
David J. Hickton, U.S. Attorney for the Western District of Pennsylvania, says Trombetta had been indicted in 2013 on 11 counts, including mail fraud, theft and filing a false tax return.
He was accused of falsifying corporate books and records, and concealing more than $8 million in income by shifting the money to the income tax returns of other persons. Authorities said the scheme lasted from 2006 to 2012.
KDKA-TV reports that Trombetta spent some of $8 million on a corporate jet, a condominium in Florida, and real estate.
The Pennsylvania Cyber Charter School was described as the largest and most successful cyber school in the state.
Trombetta is scheduled to be sentenced in December.
Video from KDKA-TV:
