Fred Stair is charged with misapplication of fiduciary property, which is a first degree felony.
According to The Alpine Avalanche, Stair is accused of writing $200,000 in checks from Marathon I.S.D.'s bank account to his own bank account and a credit card account he held between September 1, 2008 and June 30, 2011.
The Texas Rangers have been investigating the incident since September 2011. Rangers say audits of school years before 2008-2009 might show even more financial abuse from Stair.
Stair turned himself in to the Brewster County Sheriff's Office on April 25th. He has since been released on a $10,000 bond.