Widgets Magazine

Former GSB student’s degree revoked

Administrators at the Graduate School of Business (GSB) announced Tuesday they had rescinded their offer of degree to Mathew Martoma, the S.A.C. Capital Advisors, L.P. (SAC) employee, who was recently convicted of insider trading.

The move, which effectively revokes the MBA Martoma received in 2003, is reported by the Wall Street Journal to be the first time the GSB has revoked a degree.

Martoma, before applying to Stanford, was expelled from Harvard Law School in 1999 for altering his transcript.

University spokeswomen Barbara Buell cited privacy laws in declining to comment on Martoma’s situation. She noted, however, that the University has avenues for revoking offers of admissions or degrees if a student has falsified admissions materials.

The University sent Martoma a letter last month inquiring about statements made on his application, giving him an initial deadline of two weeks to respond. After giving extending his deadline by two weeks, Stanford revoked his admission after receiving no response from Martoma or his legal team.

Martoma was convicted on Feb. 6 on insider trading charges for his role in illegal trades that helped SAC avoid losses of $275 million.

About Andrew Vogeley

Andrew Vogeley ‘17 served as President and Editor-in-Chief of Volume 249. He is a senior majoring in political science and hails from the great state of Texas (and he’ll be sure to let you know it). Outside of The Daily, Andrew is President of RUF, a Christian fellowship group. To contact Andrew, email him at avogeley ‘at’ stanford.edu
  • dksamuel

    Not fair to disown a student, what were the placement officers doing