The good reverend's charter school just loves its Ohio Department of Education's offerings!
Maybe while he's doing time this time, he can write his next book: "Not Without Credentials."
Well-known minister arrested
Cleveland Plain Dealer, Sept. 15, 2006
Cleveland - A well-known preacher who used his experiences as an ex-convict to inspire others is among three people and five corporations charged with defrauding the state's Department of Education of $2.2 million.
An indictment, unsealed Friday in U.S. District Court, accuses the Rev. Mark C. Olds, 56, of Solon, of conspiracy, money laundering and mail fraud in connection to his operation of a now-closed charter school in Cleveland.
Others accused in the indictment include: Shirley S. Haynes, 57, of Cleveland, and Timothy Daniels, 47, of Arizona. The corporations include the charter school, Cleveland Academy of Math, Science and Technology, and four related corporations, all based in Cleveland.
Olds founded the charter school in 2002. The Cleveland Academy of Math, Science and Technology closed the next year amid serious financial problems, including owing the state $1.4 million in overpayments for students not enrolled and failing to make payroll for teachers.
Federal prosecutors allege that the trio defrauded the department of education by submitting fraudulent monthly reports that inflated student enrollment numbers. They then diverted the money they received for those students to their personal use, including setting up contracts between the school and companies they owned.
Olds was arrested this morning and is to appear in federal court today.
He is a minister and has served at the Eagle Rock Covenant Assembly in Cleveland and Olivet Institutional Baptist Church. He also founded The National Restoration Movement, an amnesty program designed to get guns off the streets, help convicts get the record of their crimes expunged and rebuild communities.
Olds wrote an autobiography, "Not Without Scars," about his 16 years in prison and rebuilding his life afterwards. He has used the story of his incarceration - for selling and using drugs and robbing banks - to motivate others to live right.
By Damian G. Guevara, dguevara@plaind.com
An indictment, unsealed Friday in U.S. District Court, accuses the Rev. Mark C. Olds, 56, of Solon, of conspiracy, money laundering and mail fraud in connection to his operation of a now-closed charter school in Cleveland.
Others accused in the indictment include: Shirley S. Haynes, 57, of Cleveland, and Timothy Daniels, 47, of Arizona. The corporations include the charter school, Cleveland Academy of Math, Science and Technology, and four related corporations, all based in Cleveland.
Olds founded the charter school in 2002. The Cleveland Academy of Math, Science and Technology closed the next year amid serious financial problems, including owing the state $1.4 million in overpayments for students not enrolled and failing to make payroll for teachers.
Federal prosecutors allege that the trio defrauded the department of education by submitting fraudulent monthly reports that inflated student enrollment numbers. They then diverted the money they received for those students to their personal use, including setting up contracts between the school and companies they owned.
Olds was arrested this morning and is to appear in federal court today.
He is a minister and has served at the Eagle Rock Covenant Assembly in Cleveland and Olivet Institutional Baptist Church. He also founded The National Restoration Movement, an amnesty program designed to get guns off the streets, help convicts get the record of their crimes expunged and rebuild communities.
Olds wrote an autobiography, "Not Without Scars," about his 16 years in prison and rebuilding his life afterwards. He has used the story of his incarceration - for selling and using drugs and robbing banks - to motivate others to live right.
By Damian G. Guevara, dguevara@plaind.com
posted by Kathie Bracy at 10:43 PM
<< Home