PSA owners ordered to pay $5 million in restitution for fraud

PSA owners ordered to pay $5 million in restitution for fraud

Last week, Connecticut’s Banking Department gave the owners of the Putnam Science Academy (PSA), a private high school in Connecticut, 60 days to pay $5 million to two investors they are accused of defrauding. Last November, alleged victims and former PSA employees told Inside Investigator that Tieqiang Ding and Julia Fang, the husband-wife duo who co-own PSA, are guilty of defrauding investors and embezzling school funds to the tune of millions…