Founder of Urban Prep Academies Charged with Embezzlement and Cover-Up

Timothy King, once celebrated as a 'Hero of the Year,' accused of stealing over $103,000 from his own charter school network

Apr. 16, 2026 at 5:12am

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An extreme close-up photograph of a shredded financial document or bank statement, lit by a harsh, direct camera flash against a pitch-black background, conceptually representing the investigation into the alleged financial misconduct at Urban Prep Academies.The alleged embezzlement of school funds by the founder of Urban Prep Academies exposes the need for greater financial oversight and accountability in the charter school system.Chicago Today

Federal prosecutors have indicted Timothy King, the founder of the Urban Prep Academies charter school network in Chicago, on charges that he embezzled more than $103,000 from the school and then deleted financial records in an attempt to obstruct the investigation. King was previously honored as a 'Hero of the Year' by People magazine for his work in providing quality college prep education to Black male students in underserved neighborhoods.

Why it matters

The allegations against King, a prominent figure in Chicago's education community, raise serious concerns about financial mismanagement and abuse of power within the charter school system. The case also highlights the challenges of maintaining accountability and transparency in schools that operate with significant autonomy from traditional public school districts.

The details

According to prosecutors, King used his authority as a signatory on Urban Prep's bank account to funnel school funds directly to his personal credit card, transferring approximately $54,414 between May and December 2021 and another $49,419 between March and May 2022. After receiving a federal grand jury subpoena in June 2022, King allegedly took steps to impede the investigation by deleting records of $50,000 in purported donations he had made to the organization.

  • In May-December 2021, King allegedly transferred $54,414 from Urban Prep's account to his personal credit card.
  • In March-May 2022, King allegedly transferred another $49,419 from Urban Prep's account to his personal credit card.
  • In June 2022, King received a federal grand jury subpoena.
  • On August 9, 2022, King allegedly deleted records of $50,000 in donations he had made to Urban Prep.

The players

Timothy King

The founder of Urban Prep Academies, a charter school network in Chicago, who was once named 'Hero of the Year' by People magazine for his work in providing quality college prep education to Black male students.

Urban Prep Academies

A charter school network in Chicago that operated three campuses before its charter was revoked by Chicago Public Schools in 2023 due to allegations of misconduct.

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What’s next

The judge in the case will decide on the bail conditions for Timothy King at a hearing scheduled for next week.

The takeaway

This case highlights the importance of financial accountability and transparency within the charter school system, particularly for schools that operate with significant autonomy from traditional public school districts. It also raises questions about the vetting and oversight of charter school leaders, and the potential for abuse of power and misuse of funds in these institutions.