SBI is investigating 'financial irregularities' at NC charter school that's closing

One of North Carolina’s oldest charter schools is closing amid a criminal investigation into whether state funding was fraudulently received.

Bridges Academy announced Friday it was closing as of June 30 due to “insurmountable financial challenges” discovered during an audit, according to a news release from the school’s board of directors. Bridges, located in Wilkes County about 150 miles west of Raleigh, had opened in 1997.

The school’s board said it’s cooperating with State Auditor Beth Wood’s investigative audit. In addition, the State Bureau of Investigation is investigating the charter school.

“In March of 2021, the North Carolina State Bureau of Investigation opened an investigation into allegations that Bridges Academy charter school fraudulently obtained excess funding from the state of North Carolina,” Anjanette Grube, a SBI spokeswoman, said in an email Monday. “The investigation remains ongoing. No additional information is available at this time.”

Read more: https://www.newsobserver.com/news/local/education/article251953268.html
(Raleigh News & Observer)