Professor George Holmes, the vice-chancellor of the University of Greater Manchester, has been dismissed amid an ongoing police investigation into alleged financial misconduct at the institution. Holmes, who led the university since 2005 (when it was known as the University of Bolton) until his suspension in May 2025, was formally removed from his position earlier this week, according to university officials.

Greater Manchester Police began their inquiry into alleged fraudulent activity around a year ago after reports from PricewaterhouseCoopers and the university’s internal fraud panel. The probe centers on the suspected misuse of up to £1 million in university funds between 2014 and 2025, involving approximately 60 financial transactions. Investigators describe the case as “significant and complex,” with a focus on funds intended for educational purposes allegedly diverted for personal gain.

On July 8, police executed search warrants at seven properties located across Greater Manchester, Lancashire, Humberside, and West Yorkshire. Two men, both in their sixties, and a woman in her fifties were arrested on suspicion of money laundering. In addition, both men faced questioning related to potential fraud, and one was also questioned regarding alleged bribery. Specific charges against Holmes have not been publicly disclosed.

Andrew Roberts, chairman of the university’s board of governors, confirmed Holmes’s contract termination in communications with staff, noting that Dr. Greg Walker would continue as acting vice-chancellor while the board organizes the selection of a permanent successor. In a statement, the university emphasized that Holmes’s suspension had been a precautionary step without any assumption of guilt.

Assistant Chief Constable Rick Jackson described the ongoing investigation as one of considerable complexity, highlighting concerns about the alleged diversion of funds that should have supported the university’s educational mission. The investigation continues as police analyze extensive financial records and more than a million related emails.

The university has expressed its commitment to cooperating fully with authorities, aiming to resolve the matter transparently while maintaining institutional integrity.