Corruption Charges Leveled at Dartmouth College Trustees

The Trustees of Dartmouth College have been accused of corruption by a whistle-blower group of college insiders.  The charge is a failure to supervise themselves and the endowment investment committee while they have taken close to $100 million in endowment manager fees.  These alums are accused of making donations to the College in exchange for $600 million in business for the financial companies they run.  And they are charged with directing $1 billion in endowment funds to their business friends, including to other school endowments on whose boards they sit. The letter states: The pattern that the Dartmouth trustees and members of the Endowment/Investment committee have engaged in for decades is clear.  That pattern is that a donor / investment manager's pledge to support Dartmouth is reciprocated with an investment of ever increasing proportions in the donor's firm, lending the credibility of an Ivy League institution to the firm.  The investment returns...(Read Full Post)