'The Paramount Charter School was a disaster for its students, but now that the publicly financed (taxpayers coughed up more than $3 million ) school is closed, the big question is:Where did the money go? American Charter Development, the Utah-based charter school company that was Paramount’s landlord and primary investor, alleges it lost well over $1 million during the 2 years the school was in operation. “In our view, there’s been fraud,” Rob Giordano, senior vice president of business development at American Charter Development. It was tens of thousands of dollars in excess of $30,000 a month going to its shell organization Advancement of Education in Scholars Corp., ,” Giordano said.” Ravitch notes: ' This failed “public charter school” will be replaced by another. The taxpayers’ money? It’s gone, along with the time that children lost in this school.'