Harvard Retracts Denial of Madoff Connection

by Paul Springer

Here and elsewhere in the media it was reported recently that Bernard Madoff inaccurately represented that he was working on an educational project with Harvard University.

Also widely reported was Harvard’s repudiation of a connection with Madoff.

Now it appears that there was a connection after all.

The New York Times reported that a Harvard professor wrote to Madoff in February with a proposal to do a case study:

A follow-up letter from the professor in late March indicated that Mr. Madoff had agreed to exchange e-mails with the professor, whose name he agreed to keep confidential. The professor, while holding Mr. Madoff to his promise of confidentiality, confirmed that his communication with Mr. Madoff was continuing.

When it first disavowed any connection with Madoff, the university was not aware of the communication, which involves a potential study of white-collar criminals.

The Times offered a certain context for the revelation of Madoff’s rectitude:

Even a hypochondriac occasionally gets sick — and even Bernard L. Madoff, who confessed to running a Ponzi scheme built on decades of lies, occasionally tells the truth.

A spokesman for the university did not have a glib answer when asked about the credibility of work involving a convicted criminal, FOX Business Network says:

The spokesman apologized for his previous blanket denials of the school’s involvement with Madoff, and when asked by FOX Business why any guidance coming from a convicted liar like Madoff might be believable and thus relevant to students, the spokesman answered “good question.”

A good question indeed, but few would quarrel with Madoff’s knowledge of the subject area.

Related posts:

  1. Madoff University?Going to prison has been a learning experience for convicted fraudster Bernie Madoff. It’s been so enlightening, in...
  2. Did Banks Know About Madoff Fraud? Bernie Says YesFinancial fraudster Bernard Madoff sure can provide for a good sound bite. And that's exactly what he did...
  3. Making Out With Madoffif you're looking for something to do in NYC on Saturday and are tired of going to the...
  4. Generating Alpha through Madoff InvestorsWhether it's trading in timber futures, investing in movies or buying distressed government debt from third-world countries, many...
  5. Madoff Investigation Spends $27M, Nets $849KThe success of attempts to determine the fate of the $65 billion that disappeared in Bernie Madoff’s disappearing...

Short URL: http://www.traderdaily.com/?p=15010

You must be logged in to post a comment Login

Receive TraderDaily by Email

- Yes! Sign me up for TraderDaily by Email
First Name:
Last Name:
Company:
*Email:

Twitter Facebook Linked In RSS Feed

© 2014 TraderDaily. All Rights Reserved.

Videos, Slideshows and Podcasts by Cincopa Wordpress Plugin