Charter school con man admits to $7.2 million fraud

A Los Angeles man who stole $7.2 million worth of computers from the government by creating fake charter schools has pleaded guilty.

Charged in June, Steven A. Bolden concocted a series of fake charter schools in a long-running scheme brought down following a federal Inspector General’s Office investigation.

Bolden abused a federal program meant to get surplus computer equipment to educational non-profits. The General Services Administration program – Computers for Learning – provides computers to public schools as well as private organizations.

According to prosecutors, Bolden, 50, began stealing computer equipment through the government program in June 2007 and ultimately made off with 19,442 items with an original purchase cost of $30.3 million. To do so, Bolden concocted more than a dozen education-oriented non-profits. The seemingly unaffiliated organization shared one link – Bolden.

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