Naropa University says $450,000 taken in alleged embezzlement over 2 years

By Associated Press, April 2, 2010

BOULDER, Colo. (USA) -- Naropa University says about $450,000 has been embezzled from the Buddhist-inspired school over the past two years.

Naropa President Stuart Lord says an employee suspected of taking the money was fired last week. No charges have been filed.

Lord says the university is cooperating with law enforcement.

He says the alleged embezzlement was discovered by an internal investigation launched after a tip from the FBI.

An FBI spokesman declined to comment on whether the agency is investigating.

Lord says two other employees were fired for allegedly failing to establish proper controls but that neither is suspected of wrongdoing.

Naropa was founded in 1974. Its teachers have included poets Allen Ginsberg and Anne Waldman and composer John Cage.