Her admitted frauds total $861,000. DuBois scheduled sentencing for April 27.
Walker originally pleaded not guilty to the charges of stealing from the school and defrauding Wilmington Savings Fund Society.
She and Hugh C. Clark, a New Media founder and former board president, had been scheduled to go on trial in federal court April 2. As part of Walker's plea, she has agreed to cooperate with federal investigators and testify against him.
In November, a grand jury charged Walker and Clark with providing false documents to obtain a $357,500 loan from the bank in 2006, then defaulting on $339,000 of the debt.
The loan, which was obtained in Walker's name, was used to buy a commercial property at 22-24 E. Mount Airy Ave. for "their failed business venture, the Black Olive restaurant," the indictment said.
The two allegedly provided fake lease agreements to the bank featuring overstated rental revenues and "false or forged signatures" of renters; misrepresented income and cash flow of a rental property owned by Walker and occupied by Clark; and submitted a false tax return misrepresenting Walker's finances.
Last spring, a federal grand jury returned a 27-count indictment alleging that Clark and Walker stole $522,000 intended for the New Media charter to pay expenses at Lotus Academy, a small private school they controlled; to fund personal businesses, including the Black Olive and a nearby health-food store; and for personal expenses, including meals and credit-card bills.
Clark, a lawyer, helped found Lotus Academy, a private school in West Oak Lane, in 1974. He also helped establish New Media in 2004. He presided over the boards of both the charter school and Lotus Academy.
