Nearly four years after criminal charges were filed, Epic Charter Schools’ founders are about to learn whether they will be bound over for trial in the state’s massive racketeering and embezzlement case against them.
But a highly confidential, deep-dive investigation by the Internal Revenue Service is still ongoing and unresolved.
Newly obtained public records reveal Oklahoma’s largest charter school is out of the woods when it comes to keeping its tax-exempt status. However, federal investigators identified “potential excess benefit transactions” between Epic and its founders’ for-profit management company, which could result in significant financial penalties…