Probe: Schools CFO acted inappropriately

An investigation has found that a former chief financial officer for New York City schools inappropriately lined himself up for a private-sector job while he was with the Department of Education.

The department’s special commissioner of investigation also found that former chief financial officer George Raab was aided by outside consultants who were supposed to be working on department business.

The report was released Tuesday by Special Commissioner Richard Condon. It found that Raab had an inappropriate financial relationship with three consultants.

Raab was the department’s chief financial officer until September 2009. He now works for Guggenheim Securities LLC. The Wall Street Journal says Raab did not return a call and an email seeking comment.

The Department of Education says Raab and the consultants are now ineligible to work for the department.