CHICAGO (WGN) — The founder of Chicago’s Urban Prep Academies allegedly embezzled more than $100,000 to pay off credit cards and then tried to cover it up, according to a returned federal grand jury indictment on Wednesday.
Tim King, ousted as CEO of Urban Prep in August 2022 amid sexual misconduct allegations, faces two counts of federal program theft and one count of obstruction of justice.
The indictment alleges that in 2021 and 2022, King stole a combined total of $103,833.31 from Urban Prep to pay for charges to his credit card. The indictment further alleges that after receiving a federal grand jury subpoena and learning of the criminal investigation in 2022, King obstructed justice by deleting online records of three cash donations he had made to Urban Prep.
Urban Prep Academies is a not-for-profit organization that operates three all-boys charter schools in Chicago. The institution receives educational and organizational funds from Chicago Public Schools as allocated by the federal government.
Arraignment in the U.S. District Court in Chicago is pending. King faces up to 40 years in prison if convicted.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to WGN-TV.
