JACKSONVILLE, Fla. -- The former director of one a Duval County schools is accused of stealing $421,477 of scholarship money from the state that was supposed to help disabled students.

Chavon Peoples, 36, former director of Success Academy Christian School, was arrested Wednesday and charged with grand theft.

According to prosecutors, bank records showed Peoples used McKay Scholarship funds to pay for a time-share condominium in Orlando, travel, formal wear and a TIVO digital TV recorder for her personal use.

"It's wrong, I mean, to steal from kids, especially," parent Rachael Hughes told Channel 4's Casey Black Wednesday afternoon.

The State Attorney's Office and the Florida Department of Education's office of inspector general jointly investigated the theft, finding that the school received McKay Scholarships between 2001 and 2005 for as many as 52 students who actually attended Duval County public schools.

"It was also our understanding throughout investigation that money was received for students that were interested in attending Success Academy but never enrolled," said Stephen Siegel, assistant state attorney.

Siegel said other scholarship students did attend the private school, but when they transferred to public schools, the state tuition continued to be collected by Peoples.

Success Academy Christian School, located at 2103 Grand St., is affiliated with the Church of God and is open to students from kindergarten to 12th grade.

"We are concerned about what has happened, it will be thoroughly investigated, and we want to continue to present quality education to the children that we serve," current Success Academy administrator Mariane Johnson said.

Peoples was being held on $100,003 bond.