Huge student association fraud

The Dom Post reports:

A police investigation has begun after more than $750,000 was drained from Whitireia Polytechnic students’ association funds over a year. …

Angry students – who learned their funds had dwindled to just $6000 – demanded the executive step down during the tense meeting. After heated discussions, one committee member broke down in tears as she told students to “have faith” in the new executive, which, except for one member, was elected after the misappropriation took place.

Fulltime students must have $135 deducted automatically from their student loans to pay subs for the Whitireia Independent Students Association. There are about 6000 students at the polytech, half of whom are fulltime.

Yet not a single one of them can quit. They can’t say I do not wish to belong to an association that is so lacking in basic financial controls, that $750,000 gets wasted or stolen.

VSM will attract different people to student associations. Not so much those who want to spend money, but those who want to provide a good enough service that students will want to join. Don’t think that the high level of fraud in student associations is a coincidence. It is a consequence of compulsory membership.