Malaysian-born Cardiff college founder accused of £5mil embezzlement
Yasmin Sarwar, who was a director and trustee at the Cardiff Sixth Form College, has claimed trial at Merthyr Crown Court to nine charges of theft and fraud.
Malaysian-born Yasmin Sarwar, co-founder of Cardiff Sixth Form College in Wales, UK, faces nine charges of theft and fraud after allegedly embezzling £5 million from the college's accounts. Her ex-husband, Nadeem Sarwar, who also founded the college, pleaded guilty to stealing £5 million at an earlier hearing. The pair established Cardiff Sixth Form College in 2008, which charges A-level students over £30,000 annually and over £70,000 for boarders.
King's Counsel Mark Cotter told Merthyr Crown Court that Yasmin had been taking money that did not belong to her and tried to cover it up, even setting up sham companies to divert large sums of money away from her then-husband and overseas once their relationship ended. The college's accounts were audited in 2011, but irregularities were discovered by September 2015 when staff became suspicious of administration issues and a culture of fear.
Staff finance assistant was terminated after raising concerns about missing funds. Nadeem and another employee, Ragu Sivapalan, have been granted bail and are expected to be sentenced later. Yasmin's trial continues.
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- Malaysian-born Cardiff college founder accused of £5mil embezzlement freemalaysiatoday.com
