University of Virginia Professor Paul Allaire is denying allegations he misused public assets by diverting money from the university into his "one-man consulting firm" based in the basement of his home.
Police believe Allaire may have cheated the university out of $1 million, and he is currently under investigation. No charges have been filed.
Over the past decade, police believe Allaire used his role as the director of UVA's Rotating Machinery and Controls Laboratory to make the financial gains. Court documents indicate the discrepancy was discovered during an internal audit.
Wednesday, through his attorney, Allaire released a statement saying the matter is before an independent panel of the faculty senate. He is confident that when all the evidence is presented, it will show he has violated no laws and no state or university policies or regulations.
Read the full statement released by Allaire's attorney below.
Jones and Green, LLP
Professor Paul Allaire, a long-time highly respected tenured chaired professor at the University of Virginia, vehemently denies recent reporting that he may have diverted money from the University. Pursuant to usual University policy, this matter is before an independent Panel of the Faculty Senate. When all evidence is presented to the Faculty Senate and Provost, Dr. Allaire is confident it will show he has violated no laws and no state or University policies or regulations. Until the University process plays out, he will have no further comment.
Tuesday, December 3 2013 11:42 PM EST2013-12-04 04:42:52 GMT
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