A well known private school in Belleville is facing possible bankruptcy. 

            

The Governor French Academy is the victim of a scam involving copy machines.

 

Like many businesses the school would lease copy machines, then over time, turn them in for new copy machines.

           

But they realized months ago the businessman they were dealing with never ended those leases and now they're on the hook for around $500,000 from copy machine companies all over the country.

 

The school did business with him for years until they discovered the scam in April.  The headmaster said they won a fraud suit against him 10 days ago but if the guy's out of money it's going to be hard to collect damages.  The school is on its own here.

 

The headmaster said they went to the Belleville police and they said this was too big for them.  They turned it over to the feds, but the feds said it's too small for them.

 

Through their attorney, the French Academy has made a proposal to the seven leasing companies.

           

If those companies turn it down, the school will file for Chapter 11 Bankruptcy Protection.