A former Florida State professor has been convicted of stealing money from a business school fund set up to teach students about investing.
The U.S. Attorney’s Office reports that a federal jury in Tallahassee found 40-year-old James Doran guilty of embezzlement Thursday. He faces up to 10 years in prison at his Feb. 12 sentencing.
Prosecutors say Doran oversaw the Student Investment Fund as a faculty adviser in the university’s College of Business. The fund, which receives federal money, was developed to give business students practice in managing an investment portfolio. Authorities say the finance professor transferred more than $650,000 from the fund to his personal investment account between May 2010 and March 2011. Doran returned the money after an audit.
Messages left with Doran’s attorney weren’t immediately returned.
Republished with permission of the Associated Press.