Georgia Tech professor accused of funneling $1 million to his company

Georgia Tech professor accused of funneling $1 million to his company

A former Georgia Tech professor was indicted last week on charges that he engaged in a scheme that led to the theft of more than $1 million from the university.

Joy Laskar was indicted Dec. 30 by a Fulton County grand jury on two charges of racketeering, Georgia Attorney General Sam Olens’ office announced Monday.

The indictment alleges that Laskar, who had served as Georgia Tech’s director of the Georgia Electronic Design Center, used university resources to purchase about $1 million in computer chips from CMP, a French microchip fabricator, to benefit Sayana Wireless, a private company he formed in 2006.

Laskar also allegedly used Georgia Tech resources to conduct his company’s day-to-day business activities — a violation of university policy and procedure. That alleged activity occurred between June 2006 and June 2011.

Laskar was jailed on racketeering charges in 2010 over allegations that he and other Georgia Tech employees funneled school funds into Laskar’s company. The charges came a few months after Laskar and three other employees were suspended without pay after the university’s Department of Internal Auditing found evidence of possible misappropriation of resources to benefit Sayana.

Racketeering is punishable by 10 to 40 years in prison and/or a fine of up to $100,000 on each count or three times the amount stolen.

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