March 13, 2009
Universities Seek Answers After Huge Sums Vanish
Panic set in on Friday, February 13. That's when administrators at the University of Pittsburgh and Carnegie Mellon University began to worry that $114-million they had invested with two Wall Street veterans might have disappeared.
Their worst fears were realized two weeks later, as federal agents arrested Paul R. Greenwood and Stephen Walsh on multiple counts of fraud and conspiracy. According to the Securities and Exchange Commission, the two misappropriated $554-million in funds
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