Founder of shuttered charter school arrested on embezzlement charges

A sign on the door at Zoe Learning Academy announced the charter school's closure. Roughly 50 of the 200 students expected to attend were displaced by Harvey, officials said. A sign on the door at Zoe Learning Academy announced the charter school's closure. Roughly 50 of the 200 students expected to attend were displaced by Harvey, officials said. Photo: Elizabeth Conley, Staff Photo: Elizabeth Conley, Staff Image 1 of / 1 Caption Close Founder of shuttered charter school arrested on embezzlement charges 1 / 1 Back to Gallery

Federal agents arrested the founding superintendent of a shuttered Third Ward charter school Wednesday morning on charges that accuse him of embezzling school money for his personal use.

Richard S. Rose, who served as superintendent, CEO and chief financial officer of Zoe Learning Academy, is expected to make his initial appearance in a federal courtoom at 2 p.m., where he will answer to charges of conspiracy, mail fraud, theft of government funds, money laundering and false bankruptcy declarations.

U.S. Attorney Ryan Patrick announced the arrest, adding that a federal grand jury returned an indictment against Rose under seal on Dec. 11. The indictment was unsealed after his arrest.

Federal prosecutors said Rose used the charter school’s money for personal expenses including legal fees, a lawsuit settlement and to buy a timeshare.

The charter elementary opened in 2001. In September 2017, the school abruptly closed. At the time, Rose said the school didn't have enough students to generate sufficient revenue to operate.