As big-city lawyer Simkin says in Herzog… But OTOH, if it didn’t get more corrupt, Saul Bellow couldn’t have written hilarious scenes like this one with Simkin… And our own wee UD wouldn’t be able to feature on her blog major machers (to keep the Yiddish thing going) like the Howard E. Buhse Professor of Finance and Law at the University of Minnesota. This guy was a dean; he got an award in counseling

While holding down a demanding job as a law prof, Edward Adams was running multiple personal businesses, and he was doing some pretty amazing counseling there too. After allegedly embezzling lots of his investors’ money (the FBI describes the “brazen theft of millions of dollars of investors’ funds over the course of several years”), he started to worry that the “theft [would be] uncovered through bankruptcy litigation.” So he

convinced shareholders to convert their worthless Apollo stock into stock in a new company — Scio Diamond Technology Corp. — that [Edward] Adams secretly controlled…

These have got to be the stupidest investors since Bernie Madoff’s lemmings.

Adams is busier than ever. I guess he’s still running a bunch of businesses. He’s still a bigshot law professor at Minnesota. He’s suing the local paper for defamation because of all the mean things they’re saying about him. And he needs to get his best suit dry cleaned for his first court appearance next week. UD hopes UM has a very long Faculty Annual Report form.

Here are more details, including a yummy statement from the university insisting that the guy’s activities are “fully outside” of his university role — moral turpitude not, I guess, being a UM thing.

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2 Responses to ““Vei, vei! It gets more corrupt.””

  1. Bill Says:

    By the same il-logic, if a male student sexually assaults a female student at an off-campus fraternity or sorority party, the school could likewise claim that “his behavior was “fully outside” not only school property, but also was “fully outside” his purpose for being a student here, so we won’t comment or get involved”….. That’s what *THEY* say, isn’t it?
    (were any of the “investors” he’s alleged to have bilked alumni, or Family of same?…?…)…

  2. Margaret Soltan Says:

    Bill: In fact, some schools have attempted precisely that move when frats do their thing.

    As to investors having possibly been alumni, etc. Yes: A financial crook who teaches at a university has a roomful of sitting ducks.

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