Former Obama White House advisor, 42, is arrested for 'stealing $218,000 from the Democracy Prep charter school network that he founded and using it to buy a luxury Manhattan apartment'
Seth Andrew, 42, the founder of Democracy Prep, was arrested in Manhattan on wire fraud, money laundering and false statement charges
Attorney Michael Yaeger said Andrew, 42, will plead not guilty to the charges
Andrew is accused of stealing $218,000 from the schools he helped create
US Attorney Audrey Strauss said he then used money to obtain a better interest rate on a mortgage for a $2.3million Manhattan apartment
The founder of a national charter school network who once served as a White House adviser under President Barack Obama was arrested Tuesday on charges alleging he stole over $200,000 from the network and used it to get a better interest rate on a multimillion-dollar apartment.
Seth Andrew, founder of Democracy Prep, was arrested in Manhattan on wire fraud, money laundering and false statement charges.
Attorney Michael Yaeger said Andrew, 42, will plead not guilty to the charges.
'We're reviewing the papers that were just unsealed this morning,' Yaeger said in an email.
Andrew awaited an initial appearance in Manhattan federal court.
US Attorney Audrey Strauss said in a release that Andrew stole $218,000 'from the very same schools he helped create'.