PSA announces closure after escalating debts and legal scrutiny

PSA announces closure after escalating debts and legal scrutiny

On Sunday, Tieqiang Ding, the owner of Putnam Science Academy (PSA), a private high school long mired in allegations of fraud, embezzlement, and financial mismanagement, announced PSA’s closure. Before the school’s closure, Ding and his wife, Julia Fang, accrued millions in unpaid debts and property liens, were ordered by the State Banking Department to pay $5 million in restitution for fraud, laid off the vast majority of their staff, and saw t…