An academic professor who made millions from investing.

Horsky spent almost four decades at the University of Rochester’s Simon Business School, where he became a renowned scholar in quantitative marketing. He researched Internet startup companies, particularly in Israel, where he once lived. He lost money in 17 companies he invested in, running up credit-card debt and taking a second mortgage, according to the memo from his lawyers. In 2000, he invested in a British company through a Swiss account, sticking with the firm even as he ran up $350,000 in debts, often using margin loans.

In 2005, shares in the company began to take off, and by 2008, his holdings were worth $80 million after a second firm bought the company. He then reinvested in the second company, and his assets grew to $200 million by 2014. Even as he hid those assets, “he lived his modest life as a university professor,” according to his attorneys.

http://www.democratandchronicle.com/story/news/2016/11/07/former-ur-business-professor-pays-100-million-penalty-fraud/93424646/

http://www.whec.com/news/university-rochester-professor-pays-fine-tax-fraud-case/4312213/

http://www.campustimes.org/2016/11/10/simon-professor-emeritus-resigns-title-after-tax-fraud-plea/