On March 24th, 2015 the Wall Street Journal broke the news that New York’s Attorney General Eric Schneiderman is pursuing an investigation into Cooper Union’s Board of Trustees.
For years, the Board has publicly insisted that they are on good terms with Schneiderman. Administration spokesperson Justin Harmon commented to press that the administration is, ”cooperating fully.”
Leaked board minutes from September 2012 reveal a different story. Former trustee Peter Cafiero tells his colleagues, “[The Attorney General] could basically make our lives hell by going through every dime spent on everything here.”
Days after the investigation was announced, the administration crumbled. In a bungled attempt to de-escalate mounting pressure from all sides, President Bharucha was fired. “The laissez-faire approach to nonprofit governance is over,” reported The New York Times.