The Family Foundations Academy charter school has fired two of its leaders and has handed over the reins to officials with the Eastside Charter School.
In addition, there was a reshuffling of its board.
All of this comes after accusations that the school’s co-leaders used school credit cards for more than $94-thousand in personal purchases.
The move is part of an effort to avoid the state shutting down the school.
The Wilmington News Journal reports that the new school leaders say the finances and academics of the school are sound.
The Family Foundations school was supposed to have its charter renewed by the state education board last month but that was delayed when the allegations of financial mismanagement came to light.