"Former NYU Finance Director Admits to $3 Million Fraud for Home Renovations"

Former NYU finance director Cindy Tappe, 57, pleaded guilty to a $3 million fraud scheme, diverting funds intended for minority and women-owned businesses to finance renovations on her Connecticut home. Tappe created two shell companies to improperly route $3.3 million while serving as director of finance and administration for NYU’s Metropolitan Center. She has agreed to five years probation and $663,209 in restitution, and is scheduled to be sentenced on April 16.