A recent report from Ryerson's student newspaper exposes that someone has been using Ryerson University's credit card on expensive, booze, clubs, and Airbnb purchases. The report reveals financial statements, specifically credit card statements from Ryerson's student union that show thousands of dollars spent on all kinds of fun things.
According to the student paper, The Eyeopener, the charges total up to around $250,000. They also pointed out some of what is included in these charges. Here's where some of the money has been going:
- $2,507.18 spent at the Rec Room in Toronto
- $2,280.89 spent at club EFS in Toronto
- $613.60 spent at Bar Everleigh in Toronto
- $1,375.21 spent at Nick's Sport's Shop, which sells guns in Toronto
- $347.34 spent at Haze Lounge, a shisha bar in Mississauga
- $955.15 spent at two different LCBOs including one in Orillia
- $136.64 spent at the restaurant at Casino Rama
The charges have been racked up in less than a year on the student union credit card under the name of Ryerson Student Union (RSU) president, Ram Ganesh. Ganesh and his team took office at the RSU in May of last year. Since then, they have not submitted any receipts to reconcile or confirm all their purchases. That means that they can't prove who was doing all the spending, or whether all these charges are legit.
Among the various charges on the RSU credit card, another concerning charge is over $3000 that went to Credit Risk Management Canada, a company in Stratford that offers financial management services, credit investigations, and debt management.
As of right now, the nature of that charge and all the others are still unknown, however.
Anyone who is a member of the student union could have had access to the card, though it is in Ganesh's name. Clarity should be coming for students soon though. While none of the receipts have been submitted yet, the student union has until February 1st to have all their credit card statements reconciled.
Members of the union, including Ganesh told the Eyeopener that they would meet the deadline and provide more details on the charges after they had been reconciled.
RSU and Ram Ganesh have not denied the statements, but have only said that they are disappointed they came out without any context. The student union had previously drawn questions back in May when they voted to raise each of their salaries by $11,000