Tuesday, 28 June 2016
Last updated 5 hours ago
Mar 5 2014 | 12:01pm ET
Stanford University has revoked former SAC Capital Advisors trader Mathew Martoma’s MBA.
The university’s Graduate School of Business rescinded Martoma’s 2001 offer of admission, effectively cancelling the degree he earned from the school in 2003. It is believed to be the first time Stanford’s business school has rescinded a degree.
Stanford did not specify why it had revoked Martoma’s admission, saying only that it takes “very seriously any violation of the integrity of our admissions process.” The school last month asked Martoma to explain statements on his applications; Martoma appears not to have responded.
Questions about Martoma’s admission to Stanford emerged just before the start of his trial for insider-trading—crimes he was convicted of last month. It was revealed that Martoma had been expelled from Harvard Law School for falsifying his transcript. Shortly thereafter, he changed his name from Ajai Mathew Thomas and applied to Stanford.
Martoma faces decades in prison when he is sentenced this summer.