Wall Street PR

Company

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Inside Harvard MBA’s Shocking $2.9M Ponzi Scheme That Rocked The Ivy League

Date:

Loading…

Loading…

An alleged Ponzi scheme orchestrated by a Harvard MBA alum has been dismantled by a New York court after gathering more than $2.9 million from fellow alumni.

What Happened: Vladimir Artamonov, a Harvard Business School alumnus, has been accused of deceiving investors, many of whom were individuals he met through his Harvard connections, reported Financial Times on Friday. The New York Attorney General Letitia James announced the court order to freeze Artamonov’s funds following a client’s suicide after losing $100,000.

See Also: ‘Dogecoin Killer’ Shiba Inu Sees Burn Rate Explode By 1900%, Erasing 102 Million Tokens In A Day

Artamonov, an alumnus of the prestigious Harvard Business School, reportedly used his status to garner investments for his Project Information Arbitrage fund. The fund promised returns of up to 1,000 times by reportedly forecasting investments Berkshire Hathaway would make ahead of the market from public state insurance filings.

However, Artamonov utilized these funds for unrelated short-term options, which resulted in substantial losses. He then procured additional funds to reimburse earlier investors while spending a portion on unauthorized vacations, shopping, and dining. The court has restrained Artamonov from providing financial services, engaging in fraudulent conduct, and withdrawing and transferring funds from his bank accounts.

Why It Matters: The case appears on the heels of the controversies surrounding Harvard. The college’s president Claudine Gay resigned in January due to heightened scrutiny over allegations of plagiarism in some of her published works and a controversial appearance before Congress.

The college also lost one of its mega-donors, Citadel CEO Kenneth Griffin, due to the ongoing debacle of antisemitism.

Read Next: Dogecoin’s Social Sentiment Surges 600% In Single Day As DOGE Crosses 10 Cent Mark, But This Indicator Is Flashing ‘Sell’

Image via Shutterstock


Engineered by Benzinga Neuro, Edited by Pooja Rajkumari


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Loading…

Loading…

Go Source

Chart

SignUp For Breaking Alerts

New Graphic

We respect your email privacy

Share post:

Popular

More like this
Related

This Week’s Focus Will Be About Guidance

Your Privacy When you visit any website it may use...

Business Investment Sustains Strong Momentum: Jan. 28, 2025

Stocks are recovering from yesterday’s AI induced debacle on...

Expected Shortfall (ES)

The article “Expected Shortfall (ES)” was originally posted on...

David vs Goliath: A Tale of Market Caps

Michael Normyle – Nasdaq’s US Economist joins IBKR’s Jeff...