The board of a St. Paul charter school that lost $4.3 million in a hedge fund investment accepted the superintendent's resignation on Monday night.

In her resignation letter, Christianna Hang said she wanted to leave her position because of serious health issues stemming from stress due to her work at Hmong College Prep Academy (HCPA). She also said the action would be best for the school to move forward after its financial loss.

The resignation comes after the state auditor's office determined that HCPA failed to follow state law and its own policies when it invested $5 million in the hedge fund.

After the meeting, the board said a transition team will take steps to move school leadership forward.

Hang founded the school, which is in the Como Park neighborhood. Her resignation is effective Dec. 30.