€360,000 fraud at Maynooth University being investigated
Allegedly occurred in 2015 but has only surfaced now
A Garda investigation has commenced into a €360,000 fraud at Maynooth University.
The fraud occurred in 2015 but has only recently surfaced as the university published its annual financial statement for the year ending September 2015. The document reveals that the university has suffered a loss of €362,811 as a result of fraud, which the university claims was carried out by a third party.
The issue is currently being investigated by the Garda Bureau of Fraud Investigation, who were given details of the fraud and documents relating to the incident by the university. The matter was also reported to the Higher Education Authority and the comptroller and auditor general.
No information on the nature of the fraud, nor the identity of the third party who allegedly committed the fraud, has been provided by Maynooth University nor the Gardaí.
The President of Maynooth University has said that the university is attempting to recover the money. He also stated that the university “has reviewed its control procedures since this incident and are confident that this should not reoccur.”