St. Paul charter school superintendent to step down after $4.3M hedge fund loss

The founder of a St. Paul charter school that lost $4.3 million in a hedge fund investment is planning to step down as superintendent, the school board said in a message to students and families.

Christianna Hang submitted her letter of resignation days after the state auditor's office determined that Hmong College Prep Academy (HCPA) failed to follow state law and its own policies when it invested $5 million in the hedge fund. The office sent its findings to the Ramsey County Attorney's Office for possible action.

The school's authorizer, Bethel University, also recommended earlier that the board fire Hang.

https://www.startribune.com/st-paul-charter-school-superintendent-to-step-down-after-4-3m-hedge-fund-loss/600109595/