Madonna091510_01_X17230WM.jpgMadonna's Raising Malawi academy project already folded due to alleged overspending, and now her educational charity "Success for Kids" is under investigation by the FBI due to financial mismanagement ... more specifically "several irregularities and suspicious activity."

The singer has already donated over half a million since the charity began back in 2001. Success for Kids is described as "the largest international social emotional learning organization in the world."

Madonna has voiced her "frustration" at reported misuse of funding, according to The Daily Mail.

As for why plans to build the Raising Malawi academy folded, the site claims it was due to a "startling lack of accountability" and "outlandish expenditures."

Find out Madonna's personal connection to the academy's former executive director ... after the jump.