Seth Andrew, aged 42, founded a national network of charter schools that catapulted to serve as a White House adviser during the presidency of Barack Obama, but on Friday pleaded guilty to one count of the theft of $218,000 Dollars.
With that money, Andrew got a lower interest rate for a luxury $2 million dollar apartment in Manhattan.
Andrew was one of the founders of Democracy Prep and pleaded guilty in the Southern District Court of New York for wire fraud, after admitting that he made money transactions in 2019 from the charter school network to other bank accounts without authorization.
“I am really sorry for what I did”, Andrew said before the Judge John P. Cronan. “What I did was wrong and I deeply regret my actions… I feel tremendous remorse for the impact it has had on schools, alumni and my own family.”
The former White House adviser had also been accused last April of money laundering and making false statements to a bank, according to court documents.
Now you must wait until April 20 to know your sentence, which could be up to 20 years in prison, although pleading guilty could lead to less time in jail.
Democracy Prep started in 2005 in New York City and his system helped low-income people improve test scores for economically challenged kids in Harlem. The program spread throughout the country.
Between and 2016, Andrew worked in the federal Department of Education and as a senior adviser in the White House Office of Educational Technology.