Embattled City College president resigns amid $150G probe

The president of the City College of New York abruptly stepped down amid questions about her misusing $150,000 in school funds.

Lisa Coico, who became the first CUNY grad to take the helm of the system’s flagship school in 2010, announced her resignation in a statement Friday but did not offer an explanation.

Coico and 21st Century Foundation, a nonprofit affiliated with the school are both under investigation as part of a federal inquiry into her finances and the use of federal research grants, according to The New York Times.

The money, used to buy furniture and fruit baskets, was later reimbursed.

“I am very confident this process will show that there has been no inappropriate use of college or foundation funds,” Coico wrote in an email to CCNY staff and students when news of the possible misuse of funds first came to light.

CUNY Chancellor James Milliken said the resignation is effective immediately.

Mary Driscoll will serve as interim provost until an interim president can be named later this month.

With News Wire Services

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