Law Prof Charged In $4M Fraud Scheme

From 2006 to 2013, University of Minnesota law professor Edward Adams stole more than $4.38 million from investors, pumping more than $2.54 million into his own law firm, according to federal investigators. The indictment alleges that Adams, who held several positions in Apollo Diamond, Inc., told investors their money would be used for company operations. Instead, he embezzled the money, investigators charge. By 2010 the company was on the brink of insolvency. “The defendant’s brazen theft of millions of dollars of investors’ funds over the course of several years is compounded by the fact that he holds positions of public trust as an attorney and law school faculty member,” said Richard Thornton, FBI special agent in charge of the Minneapolis division.