}

Monday, November 27, 2017

BAY CITY ACADEMY PAY-FOR-PLAY SCANDAL? Steven Ingersoll Received Piles Of Undisclosed Cash From Mark Noss Under The Guise Of “Management Services” And “Intellectual Property”, Beginning March 2014; Was Cash Funneled To Ingersoll In 2015 Through A Formerly-Secret 401K Transfer By The Bay City Academy's New Management Company Just Days Before Contract Was Inked?

FOR THE BENEFIT OF STEVEN INGERSOLL!
According to federal court documents filed during his 2016 sentencing hearing, Steven Ingersoll took a $20,971.81 distribution from his Smart Schools 401K during April 2015. 

Ingersoll had previously taken significant 401K distributions during the calendar years 2012 ($217,000) and 2013 ($244,000). 

The information presented by Ingersoll in 2016 during the sentencing hearing process revealed he did not take a 401K distribution during 2014.

However, in 2015, with the assistance of one or both of the principals of “Mitten Educational Management, LLC” (a Limited Liability Corporation formed on April 10, 2015 by Michael Randel and Brian Lynch), Steven Ingersoll took the remaining $20,971.81 from his Smart Schools Management, Inc. 401K, which was rolled over into a newly-established American Funds 401K account under this name: “MITTEN EDUCATIONAL MANAGEMENT 401K FBO STEVEN INGERSOLL”. 

That's what we know. 

Here's what we don't know: 

Exactly how much money was transferred by Mitten Educational Management into that American Funds Service Company, Inc. account established solely for “the benefit of ” Steven Ingersoll? 

Did the amount exceed the $20,971.81 401K distribution Steven Ingersoll stated on his 2016 federal financial disclosure form? 

Why did Mitten initiate and execute the 2015 401K fund transfer on Steven Ingersoll’s behalf when he'd successfully managed two prior transactions himself? 

Where did the money go after the account was closed on April 30, 2015? 

And, finally, did the suspicious timing of this transaction—the Ingersoll/Mitten 401K financial activity occurred between April 10 and April 30, 2015 although a formal transfer of Smart Schools Management’s 401K plan to Mitten Education Management did not occur until January 1, 2016—have any connection to Mitten Educational Management receiving a contract to manage the Bay City Academy, a transaction formally announced by the charter school's board on April 29, 2015?

It's happened before

The complete story tomorrow...stay tuned.



Full report coming Tuesday, November 28!

2 comments:

  1. These guys are sneaky fellows. The kind of person you wouldn't ever trust taking care of your children. Wait what damn that is what they are suppose to be doing. We are screwed and so are our children and wait so is our community.

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    Replies
    1. They're more than 'sneaky'. They're scoundrels and CROOKS.

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