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OT: Syracuse & NCAA Update

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How did that guy steal $350k and not go to jail? And where did the money go?
 
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Who put the money into the account? That's the question. Maybe a booster?

How does a smalltime operation like one single YMCA (the one here in Buffalo does not have a huge budget) not notice that much money go missing? I wonder if someone was funneling the money into the YMCA. I then wonder who paid off the $350k so this guy wouldn't go to jail. I also wonder who gave him a job in the state's DOT at $84k a year??!??!?!
 
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84k isn't a crazy number for a DOT engineer to make, but I have no idea what that guy's job was.

Using that SeeThroughNY site, I saw that there were 20 people with Cornish's job title in 2013 (including Cornish), and all 19 had a base pay of $83,954. There was one random lady who was at $70,703.
 
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How does a smalltime operation like one single YMCA (the one here in Buffalo does not have a huge budget) not notice that much money go missing? I wonder if someone was funneling the money into the YMCA. I then wonder who paid off the $350k so this guy wouldn't go to jail. I also wonder who gave him a job in the state's DOT at $84k a year??!??!?!

Because they never new the money was there. He setup a separate account using their tax id number. The normal donations go into a different account. The Booster donations go into his setup account. They were probably operating on normal funding levels. Thus they never know there is extra money, thus he doesn't go to jail because the money was never meant for the YMCA.
 
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84k isn't a crazy number for a DOT engineer to make, but I have no idea what that guy's job was.

I'm going to assume it's not engineer since his job before that was carting Syracuse players around from the YMCA to wherever.
 

ctchamps

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Because they never new the money was there. He setup a separate account using their tax id number. The normal donations go into a different account. The Booster donations go into his setup account. They were probably operating on normal funding levels. Thus they never know there is extra money, thus he doesn't go to jail because the money was never meant for the YMCA.
Where is the information you are basing this on.

In the article I link they say this about the lawsuit.

A lawsuit obtained by the Post-Standard/syracuse.com reveals that the YMCA sued Cornish in 2008 in state Supreme Court, claiming he set up a bank account using the YMCA's not-for-profit tax ID number without the agency's permission and diverted as much as $338,462 to his own benefit.

The lawsuit accused Cornish of accounting fraud and unjust enrichment. It sought a full accounting of the money in the bank account and recoupment of the YMCA's money.


It is not known how or if the money was used, including whether any of it was given to Syracuse athletes.

The YMCA dropped the lawsuit eight months later, an indication that it was settled out of court.
 
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Where is the information you are basing this on.

In the article I link they say this about the lawsuit.

A lawsuit obtained by the Post-Standard/syracuse.com reveals that the YMCA sued Cornish in 2008 in state Supreme Court, claiming he set up a bank account using the YMCA's not-for-profit tax ID number without the agency's permission and diverted as much as $338,462 to his own benefit.

The lawsuit accused Cornish of accounting fraud and unjust enrichment. It sought a full accounting of the money in the bank account and recoupment of the YMCA's money.


It is not known how or if the money was used, including whether any of it was given to Syracuse athletes.

The YMCA dropped the lawsuit eight months later, an indication that it was settled out of court.

I'm not stating as fact. Just answering on how it could have been done. Read all the post.
 

ctchamps

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I'm not stating as fact. Just answering on how it could have been done. Read all the post.
I reread it and still didn't realize it was an opinion. Won't be the first time I miss something nor the last time!
 
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Where is the information you are basing this on.

In the article I link they say this about the lawsuit.

A lawsuit obtained by the Post-Standard/syracuse.com reveals that the YMCA sued Cornish in 2008 in state Supreme Court, claiming he set up a bank account using the YMCA's not-for-profit tax ID number without the agency's permission and diverted as much as $338,462 to his own benefit.

The lawsuit accused Cornish of accounting fraud and unjust enrichment. It sought a full accounting of the money in the bank account and recoupment of the YMCA's money.


It is not known how or if the money was used, including whether any of it was given to Syracuse athletes.

The YMCA dropped the lawsuit eight months later, an indication that it was settled out of court.

And exactly sets up an account using the YMCA's non- for-profit tax id. So unless he was taking money and moving it from one account to the other, as apposed to having money directly deposited to the new account, then there would be an easy trail.
 

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The YMCA has to account for all donations to its tax ID on its tax returns. If they didn't know about the account, they were in violation of the law due to their officer's fraud. I can see why they would settle, especially if the money truly was never intended as YMCA donations but as donations to Syracuse athletics - they could actually make a profit from the settlement; but I don't see why the guy wouldn't be prosecuted for fraud. Presumably any settlement the YMCA made with him would include an acknowledgement on his part that the fraud was his and his alone, thus providing some protection to other YMCA officials in the event of an IRS investigation.
 

UConnSwag11

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is this what boehiem met with the ncaa about? these violations?
 

ctchamps

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And exactly sets up an account using the YMCA's non- for-profit tax id. So unless he was taking money and moving it from one account to the other, as apposed to having money directly deposited to the new account, then there would be an easy trail.
I get what you are saying. However, you would think the lawyers would have performed an audit before suing to determine this.
 

ctchamps

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The YMCA has to account for all donations to its tax ID on its tax returns. If they didn't know about the account, they were in violation of the law due to their officer's fraud. I can see why they would settle, especially if the money truly was never intended as YMCA donations but as donations to Syracuse athletics - they could actually make a profit from the settlement; but I don't see why the guy wouldn't be prosecuted for fraud. Presumably any settlement the YMCA made with him would include an acknowledgement on his part that the fraud was his and his alone, thus providing some protection to other YMCA officials in the event of an IRS investigation.
There is certainly a lot of questions and you wonder if this opens a can of worms for that settlement.
 

ctchamps

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Well, I hope the YMCA song is sung during every Cuse away game from here on out.
Hard to know what happens at ACC schools. I'm sure UNC fans will be quiet. But I would wager that on Feb 7th, 2015 there will be plenty of noise against Cuse and that song will be part of the noise. Cuse plays at Pitt on that date.
 
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Young man
theres a place you can go
I said young man
if your needing some dough
I said young man you just have to play zone
you dont need to guard any one

I'm Gettin Paid by the YMCA
I'm Gettin Paid by the YMCA
There is a t-shirt somewhere in those words!
 
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