Federal prosecutors have filed charges as part of an investigation into huge financial losses at Dallas County Schools, KXAS-TV (NBC5) reported Thursday.

The probe is part of a string of issues that have dogged the agency that voters elected to shut down in November elections.

Prosecutors say a school bus camera company executive paid more than $3 million in bribes and kickbacks to the superintendent in charge of the government agency in exchange for actions on $70 million in government contracts, NBC5 reported.

Slater Washburn Swartwood Sr., a New Orleans resident, has been charged in the scheme and has agreed to testify for the prosecution, FBI officials said in a news release issued Thursday.

Though the court documents don't name Dallas County Schools, "the circumstances described mirror the situation at DCS, which NBC5 Investigates has covered for months," the station reported.

Read the complete KXAS-TV (NBC5) article from Scott Friedman.