Two school district officials in California plead guilty to embezzling public funds and establishing a cryptocurrency mining operation

ChainCatcher news, according to the U.S. Department of Justice, two school district officials in California have admitted to stealing up to $1.8 million and electricity to operate a secret cryptocurrency mining operation, renovate properties, and purchase expensive cars.

Jeffrey Menge, the assistant superintendent of the Patterson Joint Unified School District, stole $1.5 million from the district over four years, while IT director Eric Drabert stole $300,000. The duo was accused of overcharging the district through a company named CenCal Tech. They also purchased high-end graphics cards and installed a cryptocurrency mining operation powered by the district's electricity. The two pleaded guilty yesterday in federal court in Sacramento and face at least 10 years in prison and a $250,000 fine.