visimoney
TLDR:
– Former NYU finance director, Cindy Tappe, pleads guilty to $3 million fraud scheme
– Tappe diverted funds intended for minority and women owned businesses to pay for personal expenses, including renovations to her home and a swimming pool
A former finance director at New York University, Cindy Tappe, has pleaded guilty to a more than $3 million fraud scheme that authorities say helped fund renovations to her home in Connecticut. Tappe diverted money intended for minority and women owned businesses while serving as the director of finance and administration for NYU’s Metropolitan Center for Research on Equity and Transformation of Schools. The diverted funds were related to $23 million in state Education Department grants awarded to the Metropolitan Center between 2011 and 2018. Tappe used some of the funds to cover NYU-related expenses, but more than $660,000 was used for personal expenses, including the renovation of her home and an $80,000 swimming pool. She has agreed to five years probation and $663,209 in restitution. NYU’s internal audit office investigated Tappe, leading to criminal charges being brought against her.
