Seth Andrew, 42, a founder of Democracy Prep School
Seth's wife, Lana Zak
Posted on 01/16/2022 5:53:41 AM PST by Libloather
The founder of a national charter school network who once served as a White House adviser under President Barack Obama has pleaded guilty to a charge alleging he stole $218,000 from the network to get a lower interest rate on a multimillion-dollar luxury Manhattan apartment.
Seth Andrew, 42, a founder of Democracy Prep, on Friday entered the plea in Manhattan federal court to wire fraud, admitting that he moved money in 2019 from the charter school network to other bank accounts without authorization.
'I am truly sorry for what I have done,' Andrew told Judge John P. Cronan. 'What I did was wrong and I deeply regret my actions.'
'And, as I stand before you today, I have tremendous remorse for the impact it has had on the schools, the alumni and my own family.'
Andrew had also been charged last April with money laundering and making a false statement to a bank. He faces up to 20 years in prison at his scheduled April 14 sentencing, but will likely get much less time.
In 2005, Andrew was a founder of Democracy Prep when it started in New York City.
The school, which teaches mostly lower-income people of color, helped raise test scores for economically challenged children in Harlem. It then expanded across the United States.
In spring 2013, Andrew left his role as a superintendent of the school's network to work in the U.S. Department of Education and as a senior adviser in the Office of Educational Technology at the White House. The job lasted until November 2016.
In court papers, authorities said Andrew stole $218,000 from the schools he helped create and then used the money to obtain the best interest rate his bank offered on a mortgage for a $2 million Manhattan apartment he bought...
(Excerpt) Read more at dailymail.co.uk ...
“Monthly payment on 1.6 million would be roughly $8,000 + monthly condo fees which I would bet are over $1000.”
Yep, so $300k, at least, to qualify. But he is married to the anchor-babe, so he may have that part covered.
Leftists are always deeply sorry that they get caught skimming and scamming.
They hope and expect to be above the law.
Seth Andrew, 42, a founder of Democracy Prep School
Seth's wife, Lana Zak
Hunter Biden and Paul Pelosi JR stay mum.
And the hits keep on coming from the “scandal free” obama crime reign.
Smug little twirp
He said he’s sorry so all better!
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