Former NYU Executive Cindy Tappe Pleads Guilty to $3.4 Million Fraud

The fraud targeted funds meant for minority and women-owned businesses, diverting them for personal use including home renovations.

Cindy Tappe, a former finance director at NYU, admitted to defrauding the university of $3.4 million intended for minority and women-owned businesses.
Tappe's fraudulent activities funded lavish personal expenses, including a $600,000 renovation and an $80,000 swimming pool at her Connecticut home.
As part of a plea deal, Tappe will avoid prison time, paying $663,209 in restitution and serving five years on probation.
The stolen funds were part of $23 million in state Education Department grants awarded to NYU's Metropolitan Center for Research on Equity and Transformation of Schools between 2011 and 2018.
NYU expressed deep disappointment in Tappe's breach of trust, emphasizing the impact on taxpayers, the university, and the intended beneficiaries of the grants.