A multi-million dollar home that was once owned by a man convicted of embezzling funds from New Mexico schools is up for sale, proceeds from which may help cover the restitution he owes the state.
KRQE News reports that in 2018, David Scott Glasrud plead guilty to embezzling millions from charter schools that he ran and owes the state of New Mexico $3 million. He was sentenced to five years for his crimes and agreed to repay the money he stole as part of his plea agreement.
“Mr. Glasrud committed one of the largest public frauds against New Mexico schools in recent memory,” Marty Esquivel attorney for the New Mexico Public Schools Insurance Authority said, according to KRQE News. “At the end of the day, Mr. Glasrud entered into a plea agreement, and part of that plea agreement was that he would pay back three million dollars.”
Half of the $3 million that Glasrud owes will be returned to the New Mexico Public Education Department and the other half will go to Southwest Learning Centers.
Glasrud's home was transferred to his now ex-wife's possession and is currently on the market for approximately $1.8 million.
The New Mexico Public Schools Insurance Authority has filed a suit to ensure that proceeds from the sale of the home will be returned to the schools, according to KRQE News.