You have read here that the Texas State Board of Education approved five charter chains to grow in the Lone Star State and nixed three chains. One of those approved is a Gulen charter chain that was rejected in Alabama and Nevada.

Another of those that were approved is the Learn4Life chain, a California-based chain of more than 60 charter schools.

Learn more about Learn4Life here.

Will Huntsberry wrote in the Voice of San Diego about Learn4Life last year. Its a sweet deal for its leaders, not so much for its students.

John Helgeson, a charter school executive, has a great deal for a public servant.

In 2007, he helped found Charter School Capital, a for-profit Oregon company that loans money to charter schools and buys school properties. In May 2015, he also started making $300,000 a year as an executive vice president at Learn4Life, a nonprofit network of more than 60 charter schools that serves roughly 45,000 students in California.

Charter School Capital lends money to Learn4Life schools and pockets the interest. While working at Learn4Life – which is funded almost entirely by California taxpayers – Helgeson maintained an ownership stake in Charter School Capital. In doing so, Helgeson discovered a way to collect not just one, but two paychecks from California’s cash-strapped public school system.

Learn4Life, which operates nine San Diego locations, serves a unique group of students. Many are at-risk and have dropped or failed out of traditional high schools. The schools are publicly funded and often located in strip-mall storefronts. Students usually come in to meet with a teacher once or twice a week and complete work packets.

Since 2014, Charter School Capital has loaned more than $6 million to two Learn4Life schools in San Diego alone. A charter school borrowing money from a for-profit lender is normal enough. To have a key employee who profits from both is not.

Just two months after Helgeson came on board at Learn4Life, the company increased its business with Charter School Capital. Charter School Capital purchased the 100,000 square-foot corporate headquarters of Learn4Life in July 2015 – making Charter School Capital the landlord of Learn4Life. Now Charter School Capital wasn’t just profiting on its loans to Learn4Life. It was also profiting on a lease. And so was Helgeson.

“It sounds like a classic conflict of interest, where someone is serving two masters,” said Jessica Levinson, former president of the Los Angeles Ethics Commission and a professor at Loyola Law School.

Carol Burris wrote about Learn4Life in her comprehensive report Charters and Consequences. Its schools have enormous dropout rates and very low graduation rates. By traditional indicators, they would be considered failing schools. Some have graduation rates as low as 0%, though 10-20% is more typical.

The Texas State Board of Education has very low standards for charter schools. How can it set standards for students and teachers when its standards for charters are so rockbottom?