CONCORD, NH — The founder of a former public charter school in Concord pleaded guilty to theft charges for misuse of federal education funds, which she spent on gambling, dining, trips, and other personal items.
Stephanie Alicea, 49, of Boscawen pleaded guilty to a single count of theft from a program receiving federal funds on Tuesday after a multi-year investigation of her failed public charter school. Between 2018 and 2019, after receiving hundreds of thousands of dollars to start a school in Concord, Alicea embezzled more than $73,000 and spent the money on personal trips, gambling, dining, and other items.
Alicea started the school in 2018 and received funds from the New Hampshire Department of Education through reimbursements. Around $223,000 in federal funds were paid to her for the school between May 2018 and July 2019. In paperwork to the department, which disperses the money, Alicea claimed the money was spent on educational purposes.
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However, an audit in 2020 revealed irregularities in the school’s finances, including expenses that were personal in nature and missing receipts. The school surrendered its charter in February 2021 and declared bankruptcy in March 2021. An audit of the school by an accountant found Alicea spent $73,253.36 on travel, gambling, dining, and other personal expenses.
Alicea will return to U.S. District Court in Concord for sentencing on Jan. 6, 2025. According to court documents, she faces 10 years in prison, a $250,000 fine, and probation after being released. However, as part of the plea deal, prosecutors have agreed to two years of probation and restitution of $73,253.36. Alicea will receive credit for about $7,800 recovered through the bankruptcy proceedings and $25,000 previously paid to the NH DOE.
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During bankruptcy proceedings, vendors filed for nearly $329,000 in claims earlier this year, but only $80,000 was paid out. Attorneys received around $47,000. The Steeplegate Mall lost around $93,000 in back rent, while Unitil filed nearly $16,000 in claims and received nothing. The Department of Treasury also received nothing after filing $21,000 in claims.
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