Another Fraudster Wants His NYU Degree

Feb 10 2010 | 12:30pm ET

A convicted hedge fund fraudster is suing New York University for revoking his MBA degree.

Ayal Rosenthal sued the school in Manhattan federal court for breach of contract, saying the revocation was “unfair and excessive,” The New York Post reports. Rosenthal also took issue with the seven-month delay in holding a hearing on the issue in September 2007.

NYU, which last year won a court battle with another convicted hedge fund fraudster who was seeking his undergraduate degree from the university, said the delay was due to “the unusual nature of the violation.”

Rosenthal was convicted of passing on non-public information while he was an accountant at PricewaterhouseCoopers. According to the SEC, Rosenthal, who was attending NYU’s Stern School of Business part time when the alleged infractions occurred, was part of an insider-trading circle with his father and two brothers.

Zvi Rosenthal, the father, was charged with passing tips on his employer, Taro Pharmaceuticals, to his sons. The tips were used to trade Taro shares through Aragon Capital Advisors, a Rosenthal family-owned and controlled hedge fund.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of