Embattled charter school company forgives $1 million debt it claimed Pinellas school owed

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PINELLAS COUNTY, Fla. (WFLA) – A Windsor Prep Academy lawyer said Wednesday the charter school no longer owes a management company $1 million.

The lawyer said the indicted charter school management firm Newpoint Education Partners will “forgive” debt it claims the school owed. This marks the latest chapter involving Newpoint.

Executives with Newpoint announced March 8 the company was selling its business to another firm that has now backed out of that deal.

Newpoint was indicted by a grand jury in Escambia County last week for grand theft, money laundering and white-collar crimes involving schools in Pensacola. Financial issues with the company have left three Pinellas County charter schools in limbo.

Staff members of the Pinellas County School District have said they want to shut down the three charter schools managed by Newpoint.

We have very significant concerns,” Assistant School Board Attorney Heather Wallace said.

“We’re dealing with some pretty serious accusations and indictments here in the management company who still manages the school technically,” Superintendent Michael Grego said.

At a workshop Tuesday morning, district staff discussed the “deteriorating financial condition” facing the three charter schools and revealed a recent audit shows a co-mingling of money and resources among the three schools, all operated in Pinellas by Newpoint, as well as the transfer of some furniture to other schools Newpoint managed in Pensacola.

READ MORE ABOUT NEWPOINT AND THE 3 PINELLAS CHARTER SCHOOLS:

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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