Saturday, December 20, 2014

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Capital Region

Man accused of stealing hundreds of thousands from charter school fund

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ALBANY, N.Y. — A former chief financial officer of the Brighter Choice Foundation is accused of stealing more than $200,000 from the organization that helps fund charter schools in Albany.

Ronald Racela was arrested by city detectives Wednesday. He now faces felony counts of falsifying business records and grand larceny.

Police say Racela was on probation for stealing in excess of $3,000 while he was a manager of KeyBank back in 2009.

It's unclear if the charter school foundation was aware of this prior to hiring Racela.

Brighter Choice officials could not be reached for comment. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP