The indictment by federal prosecutors of Nicholas Trombetta, founder of Pennsylvania Cyber Charter School, is an indictment of Trombetta, an apparent crook who allegedly siphoned off more than $1 million in public funds. It is not an indictment of cyber schools or of charter schools.

Charges of corruption, theft and tax evasion were filed last week by federal officials in Pittsburgh. Trombetta, the founder and former CEO of PA Cyber, surrendered to the FBI on Thursday.

Trombetta, whose cyber charter school was based in Midland, Beaver County, grew PA Cyber over the past 13 years to enroll 10,000 students and generate revenues of $100 million in 2012.

Federal investigators charge that Trombetta created a network of companies connected or somehow linked to PA Cyber that allowed him to divert enough money to buy a $1 million Florida condo, houses for his girlfriend and his mother as well as a $300,000 twin-engine airplane.

Trombetta was paid a salary of $127,000 to $141,000 from 2006 to 2012 by PA Cyber, the years covered by the indictment.

There were earlier suspicions about Trombetta and a state grand jury looked into his operations, including PA Cyber and the other companies he created to provide consulting services to PA Cyber. While the state probe seemed to come up empty, federal investigators found enough evidence to file 11 corruption and tax-related charges.

U.S. Attorney David Hickton was clear that Trombetta, not PA Cyber or cyber schools in general, was the target of the federal charges. “We are not indicting PA Cyber or cyber-education, said Hickton on Friday.

Still, many will see Trombetta’s alleged criminality and greed-driven schemes as an indictment of cyber education and charter schools, which have been opposed by many public school supporters because they drain money from traditional schools’ budgets.

The Trombetta case should build support for greater oversight of cyber and charter schools, which spend taxpayer dollars. The case also raises questions about how a state investigation did not result in a single charge, while federal prosecutors filed 13 charges.

The federal indictment describes a complex scheme to funnel millions of dollars from PA Cyber to various nonprofit and for-profit spin-off companies created and controlled by Trombetta. State officials should have been keeping a close watch on how taxpayers’ dollars were spent by PA Cyber — and where those dollars went beyond PA Cyber.

While PA Cyber is not the target in this federal investigation, the case brings up the issue of the formula used to fund cyber schools. Former Auditor General Jack Wagner issued a report last December suggesting that state lawmakers revisit the funding formula for cyber schools, making adjustments to reflect the lower cost of educating students at cyber schools, compared to the costs of operating traditional brick-and-mortar schools.

Cyber schools have their place and cyber education is a good fit for many students for a variety of reasons. But there are still bugs to be worked out, including a fair funding formula. Imposing more rigorous financial oversight is another topic for discussion.

But it’s worth remembering that people intent on stealing money can do so at a big company, at a small company, at a cyber school or at a union office.

The charges against Trombetta are about corruption and a scheme to enrich a few people at the expense of taxpayers — not about cyber schools. It’s about criminal activity and greed, which, sadly, can happen anywhere.