US: AMERICAN UNIVERSITIES MAY LOSE MILLIONS IN ACCOUNTING SCANDAL
June 1st, 2009
By Leah Germain
Two American universities are trying to recuperate tens of millions of dollars they invested with an investment firm accused of defrauding investors, according to legal documents obtained by University World News. The University of Pittsburgh and Carnegie Mellon University, also in Pittsburgh, both invested money with Westridge Capital Management Inc. and associated companies, who have been accused of misappropriating and dissipating investment assets by the US Security and Exchange Commission (SEC).
In court documents, the SEC has claimed ...
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