Ex-NYU Finance Director Accused of Stealing $3.4 Million Meant for Women, Minorities

A former director of finance at New York University, Cindy Tappe, has been indicted on accusations she defrauded the university of $3.4 million that was supposed to fund women and minority-owned businesses. The Manhattan District Attorney’s office has accused Tappe of using at least $600,000 in stolen money to renovate her home in Connecticut, dropping $80,000 on a swimming pool alone. Dating back to 2012, 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. The university discovered “suspicious activity” in 2018, leading Tappe to leave the school after being confronted, NYU spokesman John Beckman said in a statement. “We are deeply disappointed that an employee abused the trust we placed in her in this way, and we are pleased to have been able to assist in stopping this misdirection of taxpayer money,” he said.