Rancho Santa Margarita, CA - Jeremy Landau, a former board member for a charter school district has been charged with stealing $750,000 in the largest charter school theft in California history.
According to the Orange County District Attorney's (OCDA) office, Jeremy Landau, 43, Sherman Oaks, is charged with 13 felony counts of money laundering, two felony counts of misappropriation of public funds, and one felony count of conflict of interest in a sale and purchase, with sentencing enhancements and allegations for causing over $100,000 in loss, property loss over $200,000, and fraudulent transactions over $150,000.
Landau is being held on $750,000 bail. He is expected to be arraigned Thursday, Feb. 13, 2014
In May 2013, Landau is accused of joining the board of directors for California Virtual Education Partners (CAVEP), an Orange-County based charter school district that operates five online charter schools in California.
In June 2013, Landau is accused of asking the other board members for $750,000 from CAVEP's account with the promise of a $3 million return donation in January 2014. Landau is accused of using his position on the board to influence the other members to vote in his favor regarding the funds.
Landau is accused of laundering the money by moving it between various accounts and failing to repay any of the $750,000 to CAVEP. He is accused of stealing the money for personal gain.
The charter school is funded by the state, and therefore Landau is accused of stealing $750,000 in taxpayer dollars.
A private investigator was hired by CAVEP after the district became suspicious of Landau, and a case was presented to the Orange County District Attorney's (OCDA) Office in November 2013.
The OCDA Bureau of Investigation, with assistance from the Federal Bureau of Investigation, investigated this case and arrested Landau Feb. 10, 2014. The investigation is ongoing.
Senior Deputy District Attorney Chris Duff of the Special Prosecutions Unit is prosecuting this case.