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Special Investigation Unit

Special Investigations Unit Report on Cypress Youth Foundation, Incorporated Charter School

April 2000

Report Number 00-032

Overall Conclusion

An investigation by the State Auditor's Office Special Investigations Unit led to criminal charges against the former Board Chair of Cypress Youth Foundation, Inc. (CYFI). On April 28, 2000, the Marion County Grand Jury indicted Joanna Elizabeth Gasperson for the offenses of theft, misapplication of fiduciary property, and conversion of funds, state jail and third degree felonies, respectively.

Key Facts and Findings

As Chairman of the Board of CYFI, Ms. Gasperson had a fiduciary responsibility for funds withheld from employee paychecks as Teacher Retirement System (TRS) member contributions. CYFI failed to remit the funds to TRS, which is a violation of state law. The aggregate loss to the affected employees exceeds $19,000.

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