Story perspectives

California Treasurer Under Fire for Ties to Diploma Fraud

4/22/2026

Summary

Story summary

California State Treasurer Fiona Ma faces scrutiny for accepting over $30,000 in campaign donations from Steven Ma, founder of Pegasus California School, linked to a diploma fraud investigation.
The school, based in Qingdao, China, allegedly issued fake diplomas with the Val Verde Unified School District's involvement.
An audit uncovered a pattern of favors and potential fraud among California education officials.
The California Department of Education issued a cease-and-desist order against Pegasus for misleading claims of state endorsement.

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Story summary

California State Treasurer Fiona Ma faces scrutiny for accepting over $30,000 in campaign donations from Steven Ma, founder of Pegasus California School, linked to a diploma fraud investigation.
The school, based in Qingdao, China, allegedly issued fake diplomas with the Val Verde Unified School District's involvement.
An audit uncovered a pattern of favors and potential fraud among California education officials.
The California Department of Education issued a cease-and-desist order against Pegasus for misleading claims of state endorsement.