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Brighter Choice CFO admits to fraud

More than $200,000 was stolen from charter school foundation

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The former chief financial officer for an Albany charter school organization’s foundation admitted to stealing more than $200,000 from the fund. Ronald Racela, 49, of Albany pleaded guilty before Albany Count Court Judge Thomas Breslin today to one count of second-degree grand larceny, a class C felony. Racela stole $202,838 from the Brighter Choice Foundation between Sept. 15, 2011, and Dec. 12, 2012, by making false payroll entries in the organization’s financial records. He paid ...

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