Harvard Business School MBA Accused Of Defrauding Alums In $2.9M Ponzi Scheme

A Harvard Business School MBA has been charged in New York state with operating a $2.9 million Ponzi scheme that defrauded at least 29 investors — including one who allegedly committed suicide when he discovered he had lost $100,000. New York State Attorney General Letitia James on Thursday (February 29) accused HBS Class of 2003 MBA Vladimir Artamonov of tricking investors by promising them returns of 500% to 1,000% by claiming to learn which investments Berkshire Hathaway — Warren Buffett’s holding company — planned to make. “Even sophisticated investors can be conned by fraudsters, especially when personal relationships and networks are used to build a false sense of trust,” James says in a statement from her office.