Victoria's anti-corruption agency will on Monday outline explosive details of how millions of dollars meant to benefit students has been stolen or fraudulently misused by a ring of allegedly crooked senior public servants and school leaders.

In what will be one of the state's biggest public corruption hearings in decades, the Independent Broad-based Anti-Corruption Commission is expected to publicly question up to 60 past and present Education Department officials and school principals over the next two months.

Victorian secondary colleges and primary schools are alleged to have taken part in a scheme to siphon off taxpayer money.

If IBAC finds corrupt conduct, recommendations will be made for criminal charges to be laid against past and present senior officials and principals. Several former top public servants have engaged prominent criminal lawyers to represent them.

With the hearings beginning in the Country Court on Monday morning, Fairfax Media can reveal fresh probity concerns within the Victorian school sector emerged last week with allegations a principal at a Melbourne primary school has been caught inappropriately using school funds and rigging a school council election to oust his critics.