Thursday, March 23, 2017

Also, no more questions about the law school

From the Star Tribune:

A University of Minnesota law professor has been indicted on charges that he orchestrated a fraud scheme to embezzle millions of dollars from investors in companies that he ran.

According to the indictment, from 2006 to 2013, Edward S. Adams stole more than $4.38 million from investors and paid more than $2.54 million to his own law firm.

Adams, an attorney who joined the law school faculty in 1992, is expected to make his first appearance this week in U.S. District Court in Minneapolis.

And what does the university make of all this?  Here's a statement:

We are aware of the announcement earlier today by the U.S. Attorney's Office involving a University faculty member. The announcement describes alleged activities fully outside of the faculty member’s role with the University, and we do not have anything further to share at this time.

Yes, of course. Financial fraud is fully outside his role as Howard E. Buhse Professor of Finance and Law.  No connection whatsoever.

For the best summary, check out Margaret Soltan at University Diaries.

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