From the School Board to the Prison Yard
When the victims of money laundering crimes are students, our entire education system is affected
Victims of money laundering exist in great numbers and run the gamut from hoodwinked used car buyers to Medicare patients, and to even our own school children. You might be surprised to know the worldwide education system is not untouched by corrupt school officials. We don’t typically hear a victim’s story; for whatever reason, the media ignores stories of financial fraud and money laundering from the victim’s perspective. Instead, we typically learn only about the criminals and the crime itself. Today, as school is dismissed for the summer around the country, I’m focusing on how the victims of money laundering are affected by the crime with a special focus on our education system.
Marc Walker, former superintendent and Thomas Bloxham, former assistant superintendent at the Comal Independent School District (ISD) in New Braunfels, Texas, were both arrested on June 13 on felony charges of money laundering and misuse of school property. Both are accused of theft of property by a public servant, money laundering and misapplication of fiduciary property.
You can read the details of the case here, but it’s safe to say that both of these men abused their power to the greatest degree, acts that only really hurt the schools and the students. In the case of Walker, I’m flummoxed. How does a man with 34 years of experience in education, a former member of the Texas Youth Commission, a former superintendent for the Pflugerville ISD and even someone who ran as a candidate for interim superintendent of the San Marcos Consolidated ISD earlier this year, suddenly turn into a criminal?
CEO of the Alacer Group. Sharing the latest news in financial crimes and best practices that enable financial institutions to prevent money laundering.