Embezzlement Scandal After Former Staff Member Allegedly Diverts $270K from School
October 3, 2023 • By Ryan Yousefi
[caption id="attachment_48494" align="aligncenter" width="2000"]
Maria Velasco {BSO}[/caption]
By Ryan Yousefi
A former administrative assistant at Center Academy Coral Springs is facing multiple charges after allegedly embezzling hundreds of thousands of dollars worth of tuition and registration fees.
Maria Velasco, a 39-year-old resident of Coral Springs, was arrested by the Coral Springs Police Department on September 28 in connection to her embezzlement scheme, which was discovered by her school. The scheme totaled $272,347.30 and took place over a period of five years.
Velasco is accused of diverting these funds into her bank accounts and using the money for personal expenses, including vacations and bills.
Center Academy Coral Springs, located at 4700 Riverside Dr. is a private school for children with disabilities, discovered the fraudulent payments in December 2022 and has worked to recover the funds, even offering Velasco opportunities to repay, which he quickly refused.
The investigation revealed that Velasco had been diverting payments since 2018, using a Zelle account that purposely resembled the school's official email address, "info@centeracademy.com."
Velasco also directed parents to pay by check, cash, and money order, which were never deposited into the school's Bank of America account. Instead, they went into her personal BB&T (Truist) Bank.
According to the school administration, the losses were initially calculated at $58,327.40. When confronted, Velasco admitted her involvement and was allowed to repay $50,000.00. She originally paid $2,070.20 but refused to pay the remaining balance.
Coral Springs detectives found that at least 27 accounts used for student payments did not exist, and official bank records revealed that checks, cash, and money orders were also redirected to Velasco's accounts. These funds were subsequently used for personal expenses and payments to others.
Center Academy Coral Springs was responsible for covering all the costs related to the theft to ensure that students and their families were not affected by Velasco's actions.
Velasco was arrested and transported to the Broward County Main Jail, where she later was released after posting a $37,500 bond.
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