Cosmetology Schools Owners Indicted For Fraud

Two women who run a chain of cosmetology schools in Tennessee and North Carolina have been indicted on charges they stole nearly $500,000 in federal grants and education funds.

Penny Burns and Ruby Klyce are accused in the 14-count federal indictment returned Tuesday of conspiracy to defraud the federal government, wire fraud, forgery, embezzlement and destruction or concealment of records.

The Commercial Appeal reported their corporation, HD Adcock and Associate Inc., runs schools in Memphis, Jackson and Nashville, as well as Charlotte, Greenville, Winston-Salem and Durham in North Carolina.

According to the indictment, the two failed to report that some students had withdrawn from their schools and kept grants and loans to which they were not entitled.

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