Ex-CFA Institute Executive Charged With Embezzling Millions
The CFA Institute 's former chief marketing officer was charged with embezzling nearly $5 million from the financial education group to fund a lavish lifestyle that included club memberships, travel and the purchase of a $150,000 engagement ring.
Michael J. Collins, who worked at the CFA Institute from 2016 to 2022, was arrested Monday on an eight-count indictment by the Manhattan district attorney's office. According to prosecutors, he used his position as a marketing executive to hire outside consulting firms that he actually created and controlled, submitting fake invoices for 'non-existent work.'
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