Former Urban Prep CEO Tim King charged with stealing over $100,000

Prosecutors allege King diverted funds from the charter school network to pay personal credit card bills.

Apr. 15, 2026 at 11:18pm

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An extreme close-up of a crumpled financial document, its edges and creases sharply illuminated by a harsh camera flash, conveying a sense of investigative intensity and financial impropriety.The federal investigation into alleged financial misdeeds at Urban Prep Academies exposes the complex challenges facing urban charter schools.Chicago Today

Federal prosecutors have accused Tim King, the former CEO of the Urban Prep Academies charter school network in Chicago, of stealing more than $100,000 from the publicly funded schools. The indictment alleges King siphoned money from Urban Prep's bank account to pay his personal credit card bills and also tried to obstruct the federal investigation into the matter.

Why it matters

The charges against King, who founded Urban Prep and was once hailed as a hero for his work with Black male students, are a significant blow to the charter school network, which has been struggling with deep financial troubles. The case also raises questions about oversight and accountability in the charter school sector.

The details

According to the indictment, King allegedly took a total of $103,833.31 by transferring money from Urban Prep's bank account to pay his American Express credit card bills in 2021 and 2022. Prosecutors also accused King of trying to obstruct the federal investigation by deleting records after Urban Prep received subpoenas in 2022. King's lawyer has denied the allegations, calling them 'absurd' and saying King had spent hundreds of thousands of his own money to sustain Urban Prep over the years.

  • In 2022, federal prosecutors launched an investigation into Urban Prep and sought a wide range of documents regarding King.
  • In June 2022, WBEZ first reported that Urban Prep was mired in deep financial trouble.
  • In August 2022, King resigned as CEO of Urban Prep after a CPS inspector general's report alleged he had inappropriate sexual conduct with a student.
  • On April 15, 2026, the indictment against King was unsealed.

The players

Tim King

The former CEO of Urban Prep Academies, a charter school network in Chicago. He is accused of stealing more than $100,000 from the schools.

Urban Prep Academies

A charter school network in Chicago that King founded in 2002 and led as CEO until his resignation in 2022 amid financial troubles and allegations of misconduct.

Christopher Parente

Tim King's defense attorney, who has denied the allegations against his client and expressed confidence that King will be vindicated in court.

Chicago Public Schools (CPS)

The school district that authorizes, oversees, and funds charter schools in Chicago, including Urban Prep. CPS has tried to revoke Urban Prep's ability to operate schools within the district.

U.S. Attorney's Office in Chicago

The federal prosecutors who brought the indictment against Tim King, alleging he stole more than $100,000 from Urban Prep.

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What they’re saying

“Mr. King is innocent, and he will fight these charges aggressively.”

— Christopher Parente, Tim King's defense attorney

“The claim that he would steal from an institution he poured himself into creating is both false and absurd.”

— Christopher Parente, Tim King's defense attorney

What’s next

The judge in the case will decide whether to allow Tim King to be released on bail as the federal prosecution proceeds.

The takeaway

This case highlights the need for stronger financial oversight and accountability in the charter school sector, especially for high-profile institutions like Urban Prep that have faced allegations of misconduct. It also raises concerns about the sustainability of charter schools that rely heavily on a single leader's vision and fundraising efforts.