Ex-business professor charged in investment scheme


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — A former adjunct professor at Columbia Business School has been charged with bilking investors including a former student out of $3 million.

Gregory Rorke was freed on $1 million bail Friday after his initial appearance in federal court in Manhattan. He's facing criminal securities and wire fraud charges, plus civil claims brought by the Securities and Exchange Commission.

U.S. Attorney Preet Bharara says Rorke "grossly misrepresented his character and financial stability" to investors in his software company.

Defense lawyer Michael Tremonte declined to comment.

Prosecutors say the 60-year-old Rorke made false representations to investors from at least December 2009 until his arrest. Prosecutors say the Bronxville resident duped more than 30 investors.

Columbia decline to comment on Rorke's arrest.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast