Responsible people should handle school’s finances
Marco Antonio Delgado, former Carnegie Mellon trustee, was arrested last Friday on charges of conspiracy to commit money laundering, according to the Pittsburgh Post-Gazette.
Delgado was accused of aiding a Mexican drug cartel in laundering $600 million. On Thursday, Delgado pleaded not guilty. If convicted, he could serve up to 20 years in prison, according to CNN.
Although Delgado pleads not guilty and the case has yet to go to court, it is troubling that there have been multiple incidents in which notable people associated with Carnegie Mellon have been accused of financial foul play.
In 2009, Carnegie Mellon invested in Westridge Capital Management, Inc., the general partners of whom were charged with money laundering, fraud, and conspiracy, according to Bloomberg. Paul Greenwood and Steven Walsh were accused of using WG Trading Investors to buy homes, cars, horses, and collectible teddy bears.
Tuition at Carnegie Mellon is immensely expensive, and it increases every year. Students voted to raise the activities fee for undergraduate students in order to support student organizations and activities. It often seems that the Carnegie Mellon administration is largely focused on fundraising efforts. With this focus, though, we need the people who handle Carnegie Mellon’s fiscal responsibilities to remain uninvolved in such scandals.
When so much is expected of the students and faculty of Carnegie Mellon, both academically and financially, it is disheartening to see our Board of Trustees facing multiple allegations of possible fiscal malpractice.
Greater efforts must be made by the Board of Trustees to ensure that the future of Carnegie Mellon is in safe hands. In order to continue to excel as an academic institution, we need a guarantee that our finances, and the hands that manage them, are clean.