Thursday, April 6, 2017

TTT Chronicles: Edward Adams, Former Candidate to Become Dean at SUNY Buffalo Law School, Indicted on 14 Separate Fraud Charges for Embezzlement


http://buffalonews.com/2017/03/25/candidate-top-ub-law-school-post-charged-embezzlement-scheme/

Prerequisite for Being Dean?: On March 25, 2017, the Buffalo News published a Jay Tokasz article that was entitled “Candidate for dean of UB Law School charged in embezzlement scheme.” Enjoy this opening:

“A finalist to become the next dean of the University at Buffalo Law School was indicted this week on federal fraud charges related to the alleged embezzlement of millions of dollars from investors in a company he helped run. 

The U.S. Attorney's Office District of Minnesota charged Edward S. Adams, 64, a law professor at the University of Minnesota, with eight counts of mail fraud and six counts of wire fraud. 

Adams -- an expert in corporate law and a former associate dean at the University of Minnesota Law School -- was among five finalists for the dean's post at the UB Law School who visited the campus in February and met with law school faculty and top university officials. 

A UB spokesman said in an email statement that Adams "was not under consideration when the charges against him were filed. 

Adams did not return a call seeking comment.

The indictment alleges that over a period of seven years, Adams stole $4.38 million from investors in a company that produced lab-grown diamonds. Adams paid to his own law firm more than $2.54 million during that time, according to the indictment. 

UB launched a search for a new dean last September, with a 15-member committee led by Paul Tesluk, dean of the UB School of Management. The former UB Law School dean, Makau W. Mutua, resigned in 2014. James A. Gardner, a constitutional law expert, has been serving as interim law school dean. 

The university hired a national firm, Russell Reynolds Associates, to assist with the search. University administrators are hoping new leadership will help overcome divisions within the Law School and bolster its sagging U.S. News & World Report rankings. 

Adams was the first of five finalists to visit campus in February. He followed up his visit with an open letter to UB law faculty saying he looked "forward to receiving an offer to be Dean at UB. I believe I will excel at it. It will be my sole focus." [Emphasis mine]

How “honorable,” huh?!?! Frankly, wouldn’t this pig’s embezzlement background give him good experience in baiting and financially ruining hundreds of young students each year? Hell, that should have led to him landing the position.

https://jonathanturley.org/2017/03/24/minnesota-law-professor-charges-with-massive-criminal-fraud/

Other Coverage: On March 24, 2017, Jonathan Turley wrote a brilliant piece labeled “Minnesota Law Professor Charged With Massive Criminal Fraud.” Take a look at the following portion:

“University of Minnesota law professor Edward S. Adams is facing an astonishing criminal indictment over millions of missing funds from investors in his companies. The indictment says that Adams perpetrated an elaborate fraud on investors and fellow partners. According to the indictment, from 2006 to 2013, Edward S. Adams stole more than $4.38 million from investors and paid more than $2.54 million to his own law firm.

What is astonishing is that Adams is the second faculty member to face criminal charges on the Minnesota law faculty.

At the heart of the indictment is Adams’ involvement in Apollo Diamond, Inc.. Apollo’s founder was Adams’ father-in-law.

He allegedly embezzled funds and then, with the company facing insolvency, Adams allegedly had shareholders convert their Apollo stock into stock in a new company — Scio Diamond Technology Corp. He then allegedly siphoned off $2 million for his own accounts.

He is now facing eight counts of mail fraud and six counts of wire fraud.” [Emphasis mine]

Apparently, Cockroach Edward Adams felt that he wasn’t fleecing the public enough, as a “law professor” parasite at a state school. But at least he allegedly put his law degree to good personal use, right?!?!

Conclusion: The paid puppets at the University at Buffalo Law Sewer can parrot the line that this greedhead was not a candidate to be their dean when the charges were filed. However, the fact remains that he was one of five finalists for the post. That means that he was at least in the running. It was between him and four others to get the job. He also stole more than $4.38 million from his investors – and funneled a large portion of that figure to his own law firm and his own accounts. 

Furthermore, according to the Buffalo News article cited above, he was an “expert” in corporate law and a former associate dean at the Univer$ity of Minne$ota. Plus, he visited them in February of this year. That was two months ago. He was also at the now 23rd “best” law school in the country, at the time. This big-ass indictment just came down on his head in late March 2017. And the dolts at SUNY want you to believe that he was not a serious candidate to lead this third tier cesspit – which is currently rated as the 106th greatest, most remarkable and amazing law school in the entire country. In the end, this type of conduct gives you a glimpse into the pigs’ mindset, i.e. minimal “work” and effort for maximum pay.

22 comments:

  1. Sounds like an excellent candidate for Ari$$ona $$umit $$ewer of Law or the Charlotte $$ewer.

    ReplyDelete
  2. Jimmy: "You got money for that fuckin' commercial. Fuckin' commercial, you don't got my money, you don't got my fuckin' money, huh?"

    Lemmings, if you attend one of these TT, TTT, or TTTTs, don't think that your school actually respects you. They would never hire you to come back and teach or become a dean years later after struggling as a solo. Edward Adams followed the career path every other law "professor" takes. He graduated from the "elite" University of Chicago law school in 1988, currently the #4 law school in the country according to US "News." Adams then clerked for the 4th Circuit and moved on to Latham after that. In 1992, 4 years after graduating law school, Adams was hired by Minnesota to teach "law."

    This is how every garbage law school operates. The schools hire grads of top law schools to teach after a couple years in private practice. Do you really think that this scumbag Edward Adams can adequately train you to practice law with so little experience? The toilet law schools don't care if scumbags like Adams can teach or not. The schools just want faculty with elite credentials to justify the outrageous tuition charged to students.

    ReplyDelete
  3. See what you guys do not get is this....

    The world revolves around laws and public policy. Getting a JD is still the "cat's meyow" of doctorate level education! M&A complex business contracts, negotiable instruments, awesome knowledge to have which will make you marketable and "business Savvy"... more so than the common layman.

    Like Mr. Adams as sited here today, getting a JD comes with a lot of responsibility, but it will allow you to open doors and reach heights you otherwise would not have access to.

    Hopefully after you get that bar card you decide to use your legal knowledge for the good of others and not for evil. Do not get seduced by the all mighty dollar.

    On a slightly different note NYLS is highly recommended as one of the best law schools in the great state of NY.
    After getting that JD you will be within the top 10 percent of educated people in the USA.

    NYLS even have an AAMPLE program with great graduation rates, decent bar passage, and employability decent enough to write home to mom about.

    Ethics is taught at every law school, and drilled in spades at NYLS to bad Mr. Adams went the down the wrong path. Remember live is all about making decisions.

    We should forgive Mr. Adams for the alleged allegations, he is not a bad person, he just allegedly made a bad decision or multiple depending on how things pan out.

    ReplyDelete
    Replies
    1. Doors DO open when you get a JD...from somewhere in the T6.

      All others beware.

      FTFY

      Delete
    2. AAMPLE Troll,

      You left out Seton Hall, the other toilet you recommend attending.

      Delete
    3. https://en.m.wikipedia.org/wiki/Aaron_Rodgers

      Good thing NFL great Aaron Rodgers didn't take your shitty advice, you shitwhistle.

      Delete
  4. Say what you will about Buffalo, at least they didn’t actually hire this mini Madoff. That’s more than Minnesota can say. Remember, according to the US News ass-wipes, Minnesota is a “top 25" law school.

    ReplyDelete
  5. Throwaway AttorneyApril 6, 2017 at 11:43 AM

    Law school pigs being law school pigs.

    ReplyDelete
  6. If you're going to lie, LIE BIG TIME!

    The small fib gets figured out quick.

    The universal, self-contained, self-proving crok of SHITTT can take on a life all its own, unfortunately.

    ReplyDelete
  7. In moral terms at least, what the law skules do every day isn't far removed from embezzlement.

    ReplyDelete
    Replies
    1. The Cincinnati pigs were demanding travel compensation without receipts. That's only the tiniest distance from outright theft.

      Delete
  8. Jimmy Conway and crew were more honorable than the law school pigs. They at least had the balls to strong arm their victims in person.

    ReplyDelete
  9. https://www.law.umn.edu/profiles/edward-adams

    Here is the swine's profile at the Univer$ity of Minne$ota Law Sewer:

    "Edward Adams
    Howard E. Buhse Professor of Finance and Law

    Knox College, B.A.
    University of Chicago, J.D.
    University of Minnesota, M.B.A.

    "Professor Edward S. Adams specializes in commercial, bankruptcy, and corporate law. He teaches bankruptcy, creditors remedies/secured transactions, commercial paper, corporations, and corporate finance. Professor Adams served as Associate Dean for Academic Affairs from 1997 to 2000. He was honored with the Stanley V. Kinyon Teaching and Counseling Award in 1994 and 1996, and was a co-holder of the Julius E. Davis Chair in Law for 1999-2000.

    Professor Adams earned his B.A. degree, magna cum laude, from Knox College, where he was a member of Phi Beta Kappa. In the fall of 1984, he studied at the University of Freiburg in West Germany as a European Studies and NATO Conference Scholar. Professor Adams received his J.D. degree, cum laude, from the University of Chicago Law School in 1988. He was Managing Editor of the University of Chicago Law Review. Following graduation, Professor Adams clerked for Judge J. Harvie Wilkinson III of the United States Court of Appeals for the Fourth Circuit. He then practiced law with Latham & Watkins in Chicago. Before joining the University of Minnesota Law School faculty in 1992, Professor Adams was a Visiting Professor at Albany Law School of Union University. At Albany, he was the faculty founder of the Albany People’s Law Program, which provides free legal advice to members of the community. In 1997, Professor Adams graduated with an M.B.A. with highest honors from the Carlson School of Management at the University of Minnesota."

    For $ome rea$on, they "forgot" to mention that he also supposedly specializes in embezzling money and committing mail and wire fraud. I'm sure the rats will be sure to include that in his academic page - right after I toss a no hitter in the major leagues. At least, the school has not scrubbed his ass from their website yet. That is usually the response from these ABA-accredited stench pits, when these type of things happen.

    ReplyDelete
    Replies
    1. On the bright side, if Adams is looking for a friend in Federal prison, there is fellow Knox alum Robert Hanssen. Who would have guessed that a small, low ranked liberal arts college could churn out so many felons?

      Delete
  10. Was he associate dean at Minnesota while he was engaging in fraud? Shit, that would've given him plenty of time to embezzle people.

    You know on top of the people (taxpayers, students) he was robbing as a law prof.

    ReplyDelete
  11. Does it really matter? SUNY Law School is already a piece of shit.

    ReplyDelete
  12. LAW & EMBEZZLEMENT (3 credits)

    This seminar will explore the neo-Rawlsian intersectional tension between the legal academy and the exchequers of its obscenely overpaid employees. The current case of Adams will provide an empirical backdrop for our pseudo-philosophical, quasi-theoretical musings. Students will learn practical techniques for enriching themselves at others' expense. Special reference will be made to hip-hop.

    ReplyDelete
    Replies
    1. What, no law & embezzlement internships?

      Delete
  13. Here is the press release from the U.S. Attorney's Office for the District of Columbia, regarding this bastard:

    https://www.justice.gov/usao-mn/pr/university-law-professor-charged-multi-million-dollar-corporate-fraud-scheme

    “FOR IMMEDIATE RELEASE
    Wednesday, March 22, 2017
    University Law Professor Charged In Multi-Million Dollar Corporate Fraud Scheme

    Acting United States Attorney Gregory G. Brooker today announced a federal indictment charging EDWARD S. ADAMS, an attorney and university law professor, with orchestrating an elaborate fraud scheme to embezzle millions of dollars of investors’ funds. ADAMS is expected to make his initial appearance in U.S. District Court in Minneapolis later this week.

    “The defendant’s brazen theft of millions of dollars of investor’s funds over the course of several years is compounded by the fact that he holds positions of public trust as an attorney and law school faculty member,” said FBI Special Agent in Charge for the Minneapolis Division Richard T. Thornton. “The FBI remains committed to working with our law enforcement partners to detect corporate crime in all its forms and bring those responsible to justice.”

    “The U.S. Postal Inspection Service vigorously pursues prosecution of criminals who callously defraud our citizens using the U.S. Mail. Postal Inspectors are committed to ensuring public confidence in the U.S. Mail. Fraud of this magnitude is not a victimless crime. Honest, hardworking Americans pay the price when fraudsters wrongfully steal their hard-earned money.” said Postal Inspector in Charge, Craig Goldberg.

    “IRS Criminal Investigation Special Agents are proud to work with our law enforcement partners and the U.S. Attorney’s Office to investigate and prosecute individuals, such as Edward Adams, who attempt to enrich themselves by fraudulent means,” stated Shea Jones, Special Agent in Charge of the St. Paul Field Office. “IRS Criminal Investigation is committed to using our financial investigative expertise to stop investment fraud schemes and other types of white collar crime."

    According to the indictment and documents filed in court, Apollo Diamond, Inc. (“Apollo Diamond”) and Apollo Diamond Gemstone Corporation (“Apollo Gemstone”) (collectively, “Apollo”) was a privately held company that produced lab-grown diamonds. ADAMS, a Minneapolis lawyer and law professor, became involved with Apollo through familial relations and held various managerial titles with the company such as CFO, Secretary, EVP, and General Counsel.

    According to the indictment, in 2003, at the direction of ADAMS, Apollo retained ADAMS’ financial services firm, Equity Securities, Inc., to provide investment banking services and to raise money for Apollo. Equity Securities raised more than $25 million for Apollo, for which Equity Securities received approximately $4 million in commission. Following the fundraising efforts, ADAMS continued to handle the ongoing financial matters for Apollo with minimal oversight from the Board of Directors.”

    ReplyDelete
  14. Continued:

    “According to the indictment, from 2006 through 2009, ADAMS opened multiple bank accounts with various titles including “RL Investments,” “DL Investments,” “ADR Investments,” “Apollo Diamond, Inc.,” and “Apollo Diamond Gemstone Corporation,” none of which were authorized by Apollo or its Board of Directors. ADAMS was the sole signatory and the only person with access to the accounts and the account statements, which were mailed to his personal addresses.

    According to the indictment, ADAMS told investors that they could purchase shares in Apollo by making their checks payable to the accounts he controlled. He promised that their money would be used for Apollo’s operations, including working capital, funding additional diamond growing equipment, and research and development, when, in reality, ADAMS was embezzling the money. For example, ADAMS deposited approximately $2,400,000 of investors’ funds into the RL Investments account and then surreptitiously diverted more than $1,200,000 for his own personal use, an additional $101,500 to his law firm’s bank account, and distributed the remainder of the funds to various individuals as determined by ADAMS.

    According to the indictment, in 2010, due in part to ADAMS’ embezzlement, Apollo could no longer meet its financial obligations and was on the brink of insolvency. To prevent his theft from being uncovered through bankruptcy litigation, ADAMS devised a scheme to appease shareholders by convincing them to convert their worthless Apollo stock into stock in a new company, which ADAMS secretly controlled. In March 2011, ADAMS and his law partner (identified in the indictment as “M.M.”) created a privately held company called Scio Diamond Technology Corporation (“Private Scio”), of which ADAMS and his partner were the sole shareholders and board members. ADAMS and his partner then notified shareholders that Private Scio would acquire the assets of Apollo for approximately $2,000,000 and that shareholders, without expending any additional money, would receive the same number of shares in the new entity. However, Private Scio was not yet capitalized and did not have the funds to complete the asset purchase. To further this scheme, ADAMS orchestrated a “reverse merger” transaction between Private Scio and Krossbow Holding Corporation, a publicly traded shell company, which resulted in a new publicly traded company, also called Scio Diamond Technology Corporation (“Public Scio”).

    According to the indictment, ADAMS used Public Scio to raise the $2,000,000 necessary to complete the Apollo asset purchase, leading the former Apollo investors to believe that their investments were safe and that they now held shares in a publicly traded, operational company. However, ADAMS used Public Scio’s acquisition of Apollo as yet another opportunity for personal profit and funneled the majority of the $2,000,000 into bank accounts controlled by ADAMS. In total, from 2006 through 2013, ADAMS stole from investors more than $4.38 million and paid to his own law firm more than $2.54 million.

    This case is the result of an investigation conducted by the FBI, United States Postal Inspection Service, and the Criminal Investigation Division of the IRS.

    Assistant U.S. Attorneys David M. Maria and John E. Kokkinen are prosecuting the case.

    Defendant Information:

    EDWARD S. ADAMS, 64,
    Minneapolis, Minn.

    Charges:
    Mail fraud, 8 counts
    Wire fraud, 6 counts"

    ReplyDelete
    Replies
    1. Sure is nice to be a law professor. If you are a member of a lower socioeconomic class in this country, and law enforcement suspects you are selling methamphetamine, a SWAT team will kick in your door and ransack your home. Have a baby in the house? The Habersham County Sheriff’s office in Georgia does not care. They will throw a flash bang into your baby’s crib and tell you to F off if you expect the Sheriff to pay the medical bills, even though no drugs were ever found. But if you are a scum bag law “professor” like Edward Adams, no SWAT team kicks in your door even though you stole over 4 million dollars. Instead, the U.S. Attorney calls Adams’ attorney and says, “Sorry to bother you, but we are indicting Ed on some serious charges. When is Ed available to be booked? Next week good?” In a just world, Adams would be given a ride to jail by the Baltimore police.

      Delete
  15. Hey Nando, I find it oh-so-amusing that you're using that image, or any image, from the movie Goodfellas. Because when it comes to trying to pay off college loans, Sallie Mae and its affiliates are just like the mobsters: "Awww, something bad happened to you? FUCK YOU, PAY ME."

    ReplyDelete

 
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