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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 05-01-2014, 12:30 AM   #1
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Embezzlement Investigation at UBC

so both medical and dental school at UBC have faculty/senior employees on the hook for fraud in the neighbourhood of $0.5-5M

makes you wonder if other professional programs like Business and Law are equally sketchy

Quote:
University of B.C. auditors have uncovered possible financial irregularities involving the management of a $3-million-a-year dentistry program, and the matter has now been referred to the RCMP.

Read more: Investigation of UBC dentistry program?s financials turned over to RCMP
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Old 05-01-2014, 12:36 AM   #2
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not at all surprised

all businesses / govts have a level of fraud going on, if its small enough auditors ignore it and if its well done auditors wont even find it (not that thats their role)
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Old 05-01-2014, 12:45 AM   #3
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yeah did some more reading...apparently pretty common

Financial crime common in Canadian universities - The Globe and Mail

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Annual surveys of 20-plus university auditors reveal that their institutions quietly endure some level of financial crime year after year – five- and six-figure sums routinely go missing, much of it unrecoverable. Yet they are more reluctant than companies in other industries to install and enforce safeguards, even in a time of budget crunches, when spending is being watched especially closely.

Last month, police charged a University of Waterloo copy centre supervisor with fraud totalling $955,000 little more than a month after similar charges were brought against two York University employees accused of taking more than $1.2-million over nearly three years. Studies show most frauds at universities total between $10,000 and $50,000, but seven-figure thefts are hardly a rarity: A quarter of all Canada’s occupational frauds are worth at least $1-million.
even if it's over a few years where's the papertrail for 7-figures

Audit finds VCH/UBC research funds at high risk for fraud - News - Vancouver Courier

it's just so disheartening to see healthcare professionals abusing people's/taxpayers charity for research/projects of alzheimer's etc going into their own personal account
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Old 05-01-2014, 09:14 AM   #4
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I'm sure the high up Sauder guys make plenty of coin this way
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Old 05-01-2014, 09:45 AM   #5
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There is a flaw the humans share. The accumulation of wealth, blame society that values money above everything else.
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Old 05-01-2014, 09:52 AM   #6
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Originally Posted by FS1992EG View Post
There is a flaw the humans share. The accumulation of wealth, blame society that values money above everything else.
If I hadn't seen your username, I would have sworn this was a Ulic post.
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