Jessica Calefati of the San Jose Mercury-News wrote a shocking series about the online charter schools of K12 Inc., which have the lowest graduation rate in the state, and which counts students “present” if they log on for only one minute.

Millions of public dollars fund the California Virtual Academies (CAVA), which operates for profit and is listed on the New York Stock Exchange. The company, founded by Michael and Lowell Milken, delivers a substandard education. It should be closely supervised or shut down.

Unfortunately, as Calefati discovered, the legislature is moving at a snail’s pace to authorize an audit of CAVA. Nothing seems to be happening. Much clucking of tongues, but no action.

CAVA is the lowest performing school in the state. Why hasn’t it been shut down long ago? If you recall, K12’s online charter in Tennessee was the lowest performing school in the state, and not even the State Commissioner Kevin Huffman was able to get it closed. Why?

Governor Brown likes charters. When he was mayor of Oakland, he opened two charters. The legislature has been unwilling to stand up to the rich and powerful California Charter Schools Association. CCSA should be demanding close scrutiny of CAVA, whose tactics embarrasses all charter schools. Their silence is deafening.

When the legislature dared to pass a bill banning for-profit charters, Governor Brown vetoed it. He also vetoed a bill to require charter schools to ban conflicts of interest.

So California has a greedy, rapacious charter industry, whose growth will continue unchecked until public schools enroll only students the charters don’t want. Fraud, waste, and abuse in the charter industry will grow without oversight. Conflicts of interest and nepotism will proliferate. Charters will continue to be run by entrepreneurs and speculators.

Does anyone think these developments are “reform”? From a distance, they look like graft and corruption.