Charter School CFO Pleads Guilty as Charged

Modified: August 4, 2015 2:19pm


Erie County District Attorney Frank A. Sedita, III announces that 44 year-old Krista B. Schultz of Snyder, pleaded guilty, as charged, to Grand Larceny in the Third Degree before State Supreme Court Justice Penny M. Wolfgang.  This is the highest charge for which Schultz could have been convicted had she gone to trial.  In other words, Schultz did not receive a so-called plea bargain, but was instead prosecuted to the fullest extent of the law.

Schultz’s conviction stems a payroll fraud scheme that she perpetrated while serving as the Chief Financial Officer of the Oracle Charter School located in the City of Buffalo.  Between March 13, 2013 and October 21, 2013, Schultz overpaid herself by $27,567.  The theft was discovered after the School retained a local accounting firm to assist with its preparation for its annual independent auditor’s audit.         

Schultz faces a maximum prison term of 7 years when she is sentenced by the Justice Wolfgang on September 1, 2015 at 9:30 a.m.  

The case was successfully prosecuted by Assistant District Attorney Christopher P. Jurusik, who is assigned to D.A. Sedita’s Financial Crimes Bureau.