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A former finance clerk is accused of embezzling $859,000 in funds that belonged to Esperanza High School’s student council. State auditors allegedly identified 270 checks made payable to the former finance clerk who oversaw the books while others were for two of the clerk’s relatives. According to the State auditors' bank records from 2005 to 2011, the total amount of embezzled funds is more than $1.5 million.

Across the country, academies have been plagued by allegations of financial impropriety, conflicts of interest and even corruption. Unlike schools under local authority control, academies are responsible for their own financial management. Although this means that developing good corporate relations is essential, many have ended up without a proper framework for transparency and accountability. A 2014 report for parliament claimed that “conflicts of interest are common”, adding: “There is a broader sense that the academy system lacks transparency.”