The former chief financial officer for an Albany charter school organization’s foundation was sentenced to up to 10 years in state prison this morning, after admitting to taking more than $200,000 from the foundation, officials said.
Ronald Racela, 49, of Albany, pleaded guilty in Albany County Court in March to one count of second-degree grand larceny, a felony.
In all, Racela stole $202,838 from the Brighter Choice Foundation between Sept. 15, 2011, and Dec. 12, 2012, by making false payroll entries in the organization’s financial records, officials said.
Racela was on felony probation at the time of his arrest, stemming from a previous third-degree grand larceny conviction in January 2011.
He was sentenced this morning to a total of 5 to 10 years in state prison.
Racela was ordered to pay more than $174,000 in restitution, after the foundation was able to reverse some of the false payroll entries.
“The state prison sentence handed down by the court reflects the selfishness of the defendant’s actions,” Albany County District Attorney David Soares said in a news release. “Mr. Racela will have a long time to think about the victims he hurt through his greed.”