Seth Andrew, a former education advisor in Barack Obama’s administration, was arrested on Tuesday for allegedly stealing $218,005 from a public charter school network that he founded.
Andrew was arrested in New York City, where he and his wife, CBS News anchor Lana Zak, have a residence valued at more than $2 million, according to CNBC.
She added: “The network’s finances remain strong, and at no time did any of the activity by Seth Andrew have any adverse effect on our scholars or the functioning of our schools.”
A judge ordered Andrew released on a $500,000 personal recognizance bond on Tuesday. Andrew is scheduled to appear in court on May 27.