Ready for his tearful reunion with old Bern in the yard.
The firm of Gabriel Bitran and Son will be going away for a while over a semantic dispute, namely: whether you can call investments with Bernie Madoff and Tom Petters a proprietary-research-based investing model. Unfortunately for the Bitrans, former Sloan associate dean Gabriel’s prison-term model proved just as faulty and hopeful as his hedge-fund one.
Gabriel Bitran’s lawyer, Nicholas C. Theodorou, had requested a two-year prison term and wrote in a recent court filing that his client had “no prior history of criminal activity and a record of impeccable academic achievement and ethical behavior.”
Former MIT dean, son sentenced for hedge fund scheme [Boston Globe]