Exclusive: University reports itself to regulators over loan taken from agricultural trust
A major British university is in a financial and governance crisis, having reported itself to regulators over a £121m loan.
The University of Reading has confirmed to the Guardian that it is investigating whether it improperly benefited from the sale of land belonging to the National Institute for Research in Dairying trust, with the £121m from the sales having been spent by the university and replaced with the equivalent of IOUs in the trust’s accounts.
from News South Africa http://bit.ly/2Gw2vag
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