The former headteacher and deputy head of a school at the centre of claims of financial mismanagement have been charged with fraud.
Sir Alan Davies, 65, former head of Copland Community School in Wembley, north-west London, is accused of conspiracy to defraud the school, money laundering, conspiracy to commit false accounting and fraud by abuse of position.
Davies was knighted for his services to education and has previously defended his salary saying he was "worth every penny".
Dr Richard Evans, 55, the former deputy head, was charged with conspiracy to defraud and fraud by abuse of position.
Michele McKenzie, 52, of Shaldon Drive, Ruislip, was charged with conspiracy to defraud and conspiracy to commit false accounting.
They will all appear at Westminster Magistrates' Court on June 12.
Scotland Yard said four other people who were previously arrested have been bailed pending further inquiries.
A teacher at Copland claimed almost £1m was paid to the senior leadership team in bonuses over a period of seven years.