Nie Min, the former principal of the direct-funded "through-train" school and the elementary school of Youcai (Yang Yin Youdi) College, was arrested by the police for "theft" of more than 10 million yuan. He is on bail pending investigation.
The school issued a statement this evening (27th) saying that it learned from reports that Nie Min was arrested and revealed that after the school called the police and held an emergency meeting of the school board, Nie Min admitted to misbehaving and resigned.
The school emphasized that the incident was purely a matter of personal conduct and ethics of the person involved. The school did not invest in running schools in the Mainland. In the future, the hiring of high-level officials will conduct more detailed review and establish a more complete mechanism.
Nie Min, the former principal of the elementary school of Youcai (Yang Yin Youdi) College, was arrested by the police for "theft" of more than 10 million yuan. He is on bail pending investigation.
Youcai (Yang Yin Youdi) College stated that the school board immediately convened an emergency meeting after the incident in May, established a special crisis management team, appointed an acting school, and immediately called the police and announced the incident to stakeholders.
Former principal of Youcai Primary School arrested for stealing more than 10 million yuan
The principal of Youcai College Primary School has resigned, and the principal was arrested for false reasons.
The school board held an emergency meeting in May, the person involved in the case sent a letter on the same day to take the blame and resign
According to the schedule provided by the school, the school discovered an abnormality when issuing the expenditure receipts on May 3 this year, and exposed the incident.
The next day, an internal investigation was conducted and the persons involved were questioned. At the same time, a meeting of the Finance Committee of the school board was held and legal opinions were sought.
On May 15th, the legal adviser represented the school to report to the police. On May 17th, the school management committee held an emergency meeting to review the incident. Incident crisis management team.
By June 24, the police requested further information from the school legal adviser.
On September 7th and 14th, the school legal adviser and school representatives went to the police station to give statements.
Youcai (Yang Yin Youdi) Nie Min, former principal of the Primary School of the Academy.
The incident does not affect the operation of the school: the operating reserve is equivalent to about nine months of operating expenses
The school admitted that the amount of money involved was huge, but described the school’s financial stability over the years and sufficient reserves. The latest operating reserve is about the school’s nine-month operating expenditure, emphasizing that the incident will not affect the normal operation of the school, nor will it hinder the school’s development.
The school emphasized that the incident is purely a matter of personal conduct and ethics of the person involved. The school will conduct more detailed review and establish a more complete mechanism when hiring senior management personnel in the future.
Suspected financial violation and follow-up incident book by the former principal of the elementary department of Youcai College (provided by Youcai College)
The school reiterated that there is a professional accountant who is also a member of the school board. He is obliged to assist the school in reviewing financial operations after the fact and establish a mechanism to plug loopholes and avoid similar incidents.
The school also hired a third-party independent accountant to conduct internal audits.
The school emphasizes that it has not invested in running schools in the Mainland for nearly half a year, and the school has been operating as usual
Regarding reports that the case involved cooperation projects with private schools in the Mainland, the school emphasized that it did not invest in running schools in the Mainland, and pointed out that the school has been operating as usual in the past six months since the incident. Thanks to the teacher for sticking to the post, family support and encouragement of the school: "Deeply believe in the culture and The mechanism can withstand the storm."
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