It further alleges payments - ranging from $1,700 to more than $138,000 - were authorized by the executives for business-class flights for other individuals without rationale, a virtual reality headset and payments to third-party vendors without board approval. The statement of claim - first reported by the university's independent student newspaper The Eyeopener - alleges the former executives authorized nearly $75,000 in withdrawals from the union's bank account to pay for Toronto Raptors tickets intended for student giveaways that were instead used or resold by some executives. The lawsuit says the union collected approximately $2.95 million in revenue from student fees in 2021-22, while other revenue sources totaled less than $750,000. The Toronto Metropolitan Students' Union is funded almost exclusively through fees paid by its student membership of approximately 40,000 full-time students.
The former executives named in the lawsuit did not immediately respond to requests for comment. The defendants' actions have also forced TMSU to devote an enormous amount of staff time to determine what occurred.” “The most direct financial loss has been to deprive the organization of the misappropriated funds. “As a result of the defendants' deliberate and wilful financial mismanagement the TMSU has suffered extensive losses and damages,” the statement of claim alleges. It alleges former student union president Siddhanth Satish and former executives Vaishali Vinayak and Tarmanjit Mann defrauded the union for personal gain, while former executives Akibul Hoque and Maleha Yasmin were allegedly wilfully negligent in overseeing the union's finances. The Toronto Metropolitan Students' Union filed a statement of claim this week seeking $900,000 in damages after alleged wrongdoing by members of the executive team from the 2021-22 academic year. The undergraduate student union at Toronto Metropolitan University has launched a lawsuit against five former union executives, alleging fraud and financial mismanagement that it claims has resulted in major financial losses and a huge hit to its already-damaged reputation.
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