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Ex-CFA Exec Charged in Massive $6M Embezzlement Plot
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Subscribe26 JUN 2025 / BUSINESS
Former Chief Marketing Officer of the CFA Institute, Michael J. Collins, is facing felony charges for allegedly embezzling nearly $6m from his employer and education company Pearson, through a fraudulent scheme spanning eight years. Collins is said to have created two fictitious consulting firms from which he submitted fake invoices for non-existent services, charges that he pleads not guilty to as his defence argues the claims stem from past employer grievances. His scheme, if proven true, serves as a chilling reminder for financial professionals on the importance of diligence and internal audits irrespective of the level of trust vested in any individual.
What happens when the guy selling trust starts spending stolen millions on bling, flights, and filet mignon? For the CFA Institute and Pearson, it means months of quiet panic, millions in losses, and a scandal that’s now hitting headlines hotter than a Ju...
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