A former administrator of New York University has been accused of participating in a $3.5 million money-laundering scam.
Attorneys assert Cindy Tappe, a 57-year-old former finance director for NYU, created a number of shell corporations and utilized them to transfer money unlawfully.
Additionally, fake invoices were created and submitted to the “contractors” Tappe is accused of creating.
Sources claim that Tappe stole at least $660,000 of the $3.5 million for herself, $80,000 of which went toward a pool for her opulent residence.
When confronted, Tappe reportedly continued to evade and claimed that the ‘contractors’ were the most cost-effective choice she could find despite the fact that her colleagues had detected the scam in 2018.
Here’s more on the story:
Today @ManhattanDA brags of indictment of CINDY TAPPE, 57, for $3.5 million 6-year fraud relating to two New York University programs… intended for minority and women owned businesses. pic.twitter.com/QIuhR2quZJ
— Inner City Press (@innercitypress) December 19, 2022
Cindy Tappe is accused of transferring the money into bank accounts via two shell companies she had created, and using at least $660,000 of the funds to renovate her Connecticut home and other personal expenses, including an $80,000 swimming pool. pic.twitter.com/KziuQ36luR
— Al Mayadeen English (@MayadeenEnglish) December 21, 2022
The New York Post reports:
The scam started with a $23 million grant awarded to NYU’s Metropolitan Center for Research on Equity and Transformation, where Tappe worked, with the cash meant to go to state programs to help special education students and those learning English.
A percentage of the funds was required to go to “certified minority and women owned business enterprises,” which then would administer the programs, prosecutors said.
Tappe allegedly arranged for three such subcontractors to receive some $3.5 million in grant money.
Ex-NYU director, Cindy Tappe, is charged with spending state funds on $80K swimming pool, is 'put on leave' from her new job at Yale
Prosecutors say she used $3.4m in grant money to fund a lavish lifestyle and $660K in renovations to her Connecticut home
Put on leave… RUFKM~ pic.twitter.com/MNNTfkszl5
— EdoIsHip (@HipIsEdo) December 21, 2022
Tappe had allegedly funneled the money using two shell companies, as well as by drafting false invoices for three subcontractors, who made between three to six percent without doing the work, the district attorney’s office said.
This is why I am so against these so-called educators in higher education.
So many of them are just liars, and thieves and they have the power to mold young minds.
It is disgusting.