Understand
Cardiff Sixth Form College founders used £5m fund as personal piggy bank, court hears
Overview
The founders of Cardiff Sixth Form College treated the charitable institution's funds as their personal piggy bank, a court has heard. Yasmin Sarwar is standing trial at Merthyr Crown Court denying nine theft and fraud charges, accused of stealing £5m from the college accounts alongside her ex-husband Nadeem Sarwar, who previously pleaded guilty to the theft. Ragu Sivapalan also pleaded guilty to providing a misleading auditor's report.
Key points
- Founders Yasmin and Nadeem Sarwar are accused of draining £5m from Cardiff Sixth Form College accounts.
- Nadeem Sarwar pleaded guilty to stealing £5m at an earlier hearing.
- Yasmin Sarwar denies nine charges of theft and fraud at Merthyr Crown Court.
- The independent college charges annual fees exceeding £30,000 and operates as a charitable company.
- Ragu Sivapalan pleaded guilty to causing an auditor's report to include misleading, false or deceptive information.