In May, a former treasurer of student swimming association Piranha in Enschede transferred 20,000 euros from the club’s funds to his own account. He wanted to invest the money in crypto for the association with a profit, but lost more than 7,500 euros.
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According to UToday, the independent news platform of the University of Twente, the board has decided not to file a report for the time being.
Savings account empty
The association’s cash committee would not have noticed, because the former treasurer falsified accounts. For example, it looked as if there were 20,000 euros in the savings account, but in reality the account was empty.
‘The current Piranha board discovered at the end of September that something was wrong with the financial management. The suspicious transaction of 20,000 euros also came to light at the time. A few days later, the former treasurer confessed to his deed,” writes UToday.
Financially in trouble
The swimming club is not yet making a declaration because that would have a huge impact for many people, the association states in a letter to its members. ‘The consequences will also be great for our former treasurer. For example, he can no longer apply for a VOG (Declaration of Good Conduct, ed.). There will also be a criminal record, which will reduce his job prospects in the future.’
As a result of the affair, the association is in serious financial trouble. The former treasurer has now paid back 10,000 euros and another 2,500 euros is to follow in the coming days. “We expect the remaining €7,546.48 to come in during the academic year, but we have to keep in mind that it may be difficult to stick to contracts and advance instructor courses for diving. Purchasing other large unexpected items can also become difficult.’
members meeting
Piranha will hold a general members’ meeting on the finances on December 1. On questions from RTV Oost, chairman Ties van het Erve says: “We are working on a complete solution. We do not want to go into this story.”
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