Controversial £290,000-a-year vice chancellor of university at centre of £1million money laundering and bribery probe is sacked

By JAMES TOZER, NORTHERN CORRESPONDENT Published: 18:37, 6 August 2026 | Updated: 18:37, 6 August 2026 The controversial £290,000-a-year vice chancellor of a university at the centre of a £1million money laundering and bribery probe has been sacked. Professor George Holmes was fired after two decades at the head of the University of Greater Manchester, which is currently at the centre of a ‘significant and complex’ investigation into alleged financial irregularities. The Rolls-Royce-driving academic was previously ridiculed for flaunting his wealth publicly after claiming vice chancellors are not paid enough – then receiving a £66,000 pay rise despite his institution being ranked outside Britain’s top 100 universities. The move comes after three people were arrested last month as part of a police probe into potential fraudulent activity at what was previously known as the University of Bolton. Today his dismissal was welcomed by the local MP who said it would enable the university to focus on ‘restoring confidence’ at a crucial time of year for recruiting students. ‘Now that we know that George Holmes is no longer the Vice Chancellor of the University, it is vital that the institution focuses on restoring confidence, ensuring strong governance, and maintaining its commitment to students, staff and the wider community,’ said Phil Brickell, Labour MP for Bolton West. ‘There is an ongoing police investigation but once concluded the university should seek to draw a line under this affair, learn any lessons arising from it, and move forward in a way that delivers the best outcomes for its staff, students and the people of Bolton. ‘Stability, transparency and a clear focus on educational excellence will be essential in the period ahead.’ Professor George Holmes (pictured), who has been sacked as vice chancellor of the University of Greater Manchester, was mocked in 2018 after complaining about pay yet owning a Rolls-Royce The University of Greater Manchester - which is the focus of a police investigation into alleged fraudulent activity - was known as the University of Bolton until 2024 The inquiry by Greater Manchester Police’s major incident team was launched last year after an investigation by online newspaper The Mill into allegations of racism, financial misconduct and bullying. Subsequently a report from accounting firm PricewaterhouseCoopers commissioned by the university’s fraud response panel was passed to police. Professor Holmes, who has led the institution since 2006, has come under fire in the past. He was mocked in 2018 over his claim that vice chancellors were underpaid after it emerged he owned a Rolls-Royce, a Bentley and sails a 30ft-yacht. In response he said he hoped that students would ‘use their education to get a good job and then they can have a Bentley’. At the time the University and College Union accused him of showing an ‘embarrassing lack of self-awareness when it comes to his pay’. Three years earlier there was fury after it emerged that his university had loaned him £1million to buy a luxurious Edwardian house to save him making a 100-mile round trip to work without selling his existing home – despite his salary then standing at almost £200,000. His remuneration package stood at £359,592 in the 2023-24 academic year, including a basic salary of £292,119. Professor George Holmes (pictured) was fired after two decades at the head of the university Professor Holmes was suspended by the university in May 2025 along with two senior members of staff. On July 8 officers raided seven homes across the country as part of their investigation to allow detectives to 'seize as much evidence as possible'. Then last month properties were raided in Bolton, Humberside, West Yorkshire and Lancashire as two men in their 60s and a woman in her 50s were detained on suspicion of money laundering. Both men were also questioned on suspicion of fraud, with one of them additionally held on suspicion of bribery. Detectives are said to be analysing around 60 transactions and investigating more than a million emails. At the time, Assistant Chief Constable Rick Jackson said: 'This is a key development in this significant and complex investigation which is seeing our detectives conduct painstaking work. 'We are following every line of inquiry to ensure we are in a position to compile the strongest possible evidence for a potential prosecution.’ He said officers were focused on the heart of the inquiry were ‘students whose university experience has been impacted by money that should’ve been invested in their education instead allegedly being used for personal gain’. In response the university said it had 'co-operated fully' with the police investigation and would continue to do so. Today a spokesman said: ‘Dr George Holmes’s contract as vice chancellor was ended by the governing body of the university earlier this week. ‘The staff and students of the university have been informed of developments.’ Dr Greg Walker is serving as acting vice chancellor until a permanent replacement is appointed. The university, which has about 900 staff and 11,000 students, adopted its current name in 2024. Sorry we are not currently accepting comments on this article.