Melrose high school in Memphis is the subject of an audit that has uncovered several examples of fraud and even theft.
The findings are so serious the audit has been sent to the Tennessee Comptroller's Office and the White Collar Unit in Nashville for investigation.
The findings auditors are so serious that the school's principal, Chief Executive Principal Leviticus Pointer, has been place on administrative leave pending the outcome of the investigation.
The audit focus on the timeframe between May of 2012 and April 2013 after allegations were made by the Melrose High alumni and Concerned Citizens of Orange Mound.
The probe points a finger at the school librarian, who is accused of paying himself more than $4,700 to coach the wrestling team that didn't exist. The audit also uncovered 185 pieces of school equipment missing from 2011 and 2012 because they were place in secure room or area.
As if theft and fraud are not bad enough the audit found that Melrose High didn't pay state and local taxes on $18,000 on the sale of merchandise.
What's even more troubling is that investigators concluded students at Melrose High were cheated out of district funds for their activity and enjoying the benefit of money they, the students, helped to raise.