California Treasurer Fiona Ma tied to Chinese school cited in scathing audit

Fiona Ma, the California state treasurer and a contender for lieutenant governor, faces scrutiny over her connections to a private Chinese boarding school that has recently been the subject of a critical audit. During a visit to the Pegasus California School in Qingdao, China, in 2023, Ma promised students potential internships and job opportunities in California, as highlighted in a post on the school's website. The recent audit, conducted by education officials in Riverside County, found that a Southern California school district improperly awarded diplomas to students from Pegasus and uncovered possible instances of fraud and other illegal activities. While the audit did not implicate Ma in any wrongdoing, it did reference evidence suggesting that financial mismanagement and fraudulent practices could have taken place. According to reports from Axel Springer's Global Reporters Network, Ma's visit included meetings with Chinese officials and promotion in the school’s marketing materials. Notably, the school's founder has made donations to Ma's political campaigns. In her defense, Ma stated that she was unaware of any audits or allegations regarding the school at the time of her visit. She described the trip as a personal one made to accompany her late father back to his hometown. Promotional materials from the school indicated that Ma had received notable recognition from the California government and invited students to seek her counsel on university applications in California. The California Department of Education has since issued a cease-and-desist letter to Pegasus, clarifying that it does not endorse the school and demanding an end to misleading claims regarding its affiliation. The audit emerged following a 2021 investigation that linked Pegasus to the Val Verde Unified School District and certain state education officials. The Riverside County audit highlighted a pattern of unethical behavior, suggesting various officials may have engaged in conflicts of interest and violations of the Political Reform Act. Despite the audit's findings, no charges have been filed to date. In the lead-up to the June primary election, Ma is in a competitive race against fellow Democrats, including former Navy JAG officer Josh Fryday and former Stockton Mayor Michael Tubbs. As the situation develops, California Attorney General Rob Bonta has expressed interest in investigating the matter further, indicating that the conduct surrounding the case raises significant concerns. Ma's financial ties to Pegasus' founder, who has contributed tens of thousands of dollars to her campaigns, are also under examination, adding another layer of complexity to this unfolding story.