3e884de5__Private_Postsecondary_Schools__Explanation
[Institution] New York U. (N.Y.) [Tax year] 2009 [Explanation] 
In 2009, New York University reported to the New York County District Attorney’s Office that an administrator in the chemistry department of the Faculty of Arts and Science stole approximately $400,000 through a fraudulent business expense scheme that the administrator carried out over the course of five years ending in 2009. The theft was uncovered by the university’s internal auditors. The employee was arrested on felony charges of grand larceny and falsifying business records and subsequently pled guilty. After discovering the fraudulent scheme, the university placed into effect new internal financial controls designed to prevent future thefts.
News | California Association of Private Postsecondary Schools
Explanation