Philip Bujak, is accused of the alleged con spanning seven years while he was at the helm of the Montessori St Nicholas charity.
The 56-year-old is jointly charged with a number of former Montessori business associates in connection with the alleged property scam.
Bujak's alleged crimes also include corporate credit card and invoice fraud, according to City of London Police.
The investigation was sparked after Montessori passed information to police in November 2014, and Mr Bujak was arrested in January last year.
Yesterday (Mon) the four men and a woman appeared before City of London magistrates, who committed the case for trial at the Central Criminal Court.
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