This is an astonishing story from Michigan. There, a persistent blogger named “Miss Fortune” discovered that a charter manager was indicted on multiple charges, including tax evasion and bank fraud. His wife and brother plus a local contractor and his wife diverted nearly $1 million of a $1.8 million construction loan to his personal bank accounts. Miss Fortune began digging, as persistent bloggers sometimes do, and found that the indictment said he had used some of the money to “repay an indebtedness to the Grand Traverse Academy for money he’s advanced himself.” GTA is one of the charters he manages. It seems he owed the charter school the tidy sum of $2,338,980. He planned to repay this loan by taking deductions from his management fee.

Miss Fortune broke the news on her blog.

The local media didn’t find any of this interesting. After all, don’t school superintendents borrow a million or two from their district’s bank accounts? Isn’t that, like, routine? Miss Fortune wrote a follow-up post about the events. She is betting that federal officials will follow up on this most curious set of arrangements. We shall see if anyone cares.

In Michigan, nearly 90% of charter schools are managed by an EMO (education management organization). for-profit EMOs operate 79% of charter schools, and nonprofit EMOs operate 10%. Only 11% of Michigan’s charter schools are without an EMO.