CU Boulder launches review after professor uses university account to misappropriate research funds – The Denver Post

The University of Colorado is reviewing some of its auxiliary accounts in the wake of revelations that a professor used such an account to circumvent customary controls and use funds from a federal research contract for personal expenses.

Oleg Viktorovich Vasilyev

University of Colorado Boulder, supplied

Oleg Viktorovich Vasilyev

Oleg Viktorovich Vasilyev, 50, pleaded guilty Monday in federal court to mail fraud and aiding and abetting charges related to a contract he obtained with Los Alamos National Laboratory. He used the majority of the $234,000 contract between 2007 and 2012 for unallowable personal expenses, including 23 international trips, subscriptions and conference fees, according to his plea agreement.

He avoided university scrutiny by signing the contract himself — rather than going through the appropriate channels in CU’s Office of Contracts and Grants — and funneling the money through an auxiliary account.

Vasilyev was “just one of hundreds of professors that have these types of accounts,” according to his plea agreement. Auxiliary accounts are not to be used for personal or individual outside work, according to CU officials, and auxiliary funds comprise revenues from activities conducted primarily to provide facilities or services for students, faculty and staff.

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