Court date set for mother and son allegedly involved in largest embezzlement scheme in state history

Court date set for mother and son allegedly involved in largest embezzlement scheme in state history
Zachary and Nancy New as they're leaving the federal courthouse released on bond earlier this year. (Source: WLBT)

JACKSON, Miss. (WLBT) - A court date has been set for the two former educators arrested in connection with the largest public embezzlement scheme in state history.

Tuesday, Hinds County Circuit Judge Faye Peterson set a trial date for October 4 for Nancy and Zachary New.

The two were originally to be tried separately. However, they were reindicted for the purpose of prosecuting the two in the same criminal trial.

Both had been released on their own recognizance.

According to court documents, Zachary and Nancy were not deemed flight risks or dangers to the public.

Nancy New was the owner of the Mississippi Community Education Center and Zachary was assistant executive director, according to court documents.

Prosecutors say the two converted funds from MCEC and used them to invest in Prevacous and PresolMD, a Florida drug company.

Other funds were taken from MCEC and sent to the New Learning Resources, a for-profit Mississippi corporation doing business as New Learning Resources School District. Nancy was president of that company, while Zachary was vice-president.

On the state level, the two are facing 13 felony counts and as much as 175 years in prison. The News are also facing federal charges.

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