Juan Rangel, the ex-president of UNO Charter School Network Inc. and a former chief executive officer of United Neighborhood Organization of Chicago, approved an offering statement in 2011 that failed to disclose the schools’ $13 million contracts with two brothers of the organization’s chief operating officer, which “could have threatened UNO’s ability to repay bond investors,” the U.S. Securities and Exchange Commission said.
Rangel agreed to pay $10,000 and to be barred from participating in any future municipal-bond deals to settle the SEC complaint.
Bloomberg Business
by Romy Varghese
June 21, 2016 — 11:07 AM PDT