Financial Services

• In SEC v. Colangelo, the defendant allegedly defrauded investors, and made misrepresentations regarding the investments he offered as well as his professional and educational background. The SEC alleges that the defendant emailed potential and existing investors a link to his LinkedIn profile in which he represented that he had studied finance at Nyack College when he never attended Nyack College and had not even graduated from high school. 
• In SEC v. Hicks, the SEC alleges that the defendant falsely represented in the offering memorandum for a fictitious hedge fund that he had earned undergraduate and graduate degrees from Harvard University when he had only enrolled there for a few semesters.
• In the Matter of Michael G. Thomas, the respondent allegedly solicited investors for a private fund by misrepresenting that he was named a “Top 25 Rising Business Star” by Fortune Magazine when no such distinction exists. To gain credibility, he also allegedly lied to potential investors about the persons who would be associated with his fund, the profitability of his past investments, and the expected profitability of the fund’s proposed investment.
• In SEC v. Nickles, the defendant allegedly solicited investors through advertisements in prominent newspapers. The SEC alleges that he falsely promised that the investments he offered were insured or U.S. Government guaranteed, and he held himself out as a certified financial planner (CFP) when he had no such credentials or certification.  The website of the Certified Financial Planner Board of Standards allows visitors to search for CFP professionals to verify CFP certification.
• In the Matter of Todd M. Schoenberger, the respondent allegedly made misrepresentations in soliciting investors to invest in short-term promissory notes and used the majority of money he received from investors for his own personal expenses. The respondent allegedly touted his appearances as an investment and stock market commentator on television business news programs in soliciting investors.  He also allegedly gave prospective investors marketing materials stating that he had received a degree from the University of Maryland (when he had not) and that he previously worked for a broker-dealer registered with the SEC (without disclosing that the broker-dealer terminated him for misuse of company assets).
• In the Matter of Keiko Kawamura, the respondent allegedly conducted an investment scheme involving a self-described hedge fund and another scheme involving a subscription service for investment advice, fraudulently using investors’ money for her own living expenses and luxury trips. The respondent allegedly posed as an investment banker with nearly 10 years of experience and solicited investors through Twitter, Facebook, and other social media.
• In SEC v Homepals, the SEC alleges that the defendants sold unsecured notes as part of a Ponzi scheme. When meeting with prospective and actual investors, two of the defendants allegedly misrepresented that they were the company’s secretary and the company’s attorney when they never held any official positions at the company.

Higher Education

• A former Harvard student lied about his entire academic background in order to get into Harvard University fabricated SAT scores, letters of recommendations and transcripts to gain admissions and received $40,000 in grants.
• An employee who had been with MIT for 28 years as the Dean of Admissions before the university realized that she never received the undergraduate or master’s degrees that she said she got on her resume. In fact, she never received any college degrees.
• The Principal of Pittsburg High School, who had been approved for the role by the local Board of Education, falsely claimed to have earned a bachelor’s degree from the University of Tulsa, a master’s degree and a doctorate degree from Corllins University, and a teaching degree from the University of Cambridge.
• The dean of admissions for ten years at the ultra-prestigious Massachusetts Institute of Technology, perpetuated for 28 years the lie that she had three degrees; she had none. The school learned through an anonymous tip in 2007 that Jones had puffed up her own credentials, and she was forced to quit. The cost to replace Jones is estimated to be over $100,000.
• The University of Notre Dame hired a new head football coach in 2001, who falsely claimed to have a master’s degree from New York University. His lies surfaced and his Notre Dame career lasted five days. Even worse, his future employers didn’t check his credentials – later became assistant coach for the Minnesota Vikings of the National Football League (NFL) from 2002 to 2004, and an assistant coach for the Syracuse Orange, San Diego Chargers and in 2004 took the helm of the University of Central Florida football team, where he was head coach until 2015.

Consumer Goods

• In late 2018 the CEO of the world’s largest travel luggage company resigned after he was accused of falsely claiming a doctorate degree from one of Cincinnati’s largest universities on his résumé.
• The former CEO Bausch & Lomb, an eye care product company, was fired when it was discovered that he had lied about his education. He claimed to have received an MBA from New York University. While the company decided to keep the CEO in place at the time, he ended up leaving the company 6 years later as the company experienced continued product recalls and product liability lawsuits.