Now I’ve seen everything.
I’m quoting from the Minneapolis StarTribune and the Shakopee (MN) Patch. On April 25, 2012, Paul Walsh reports in “Business teacher’s boss sticks up for him in fraud sentencing; he’s fired anyway,” and Lisa Baumann reports in, “Accounting Chair at Minnesota School of Business-Shakopee Sentenced for Fraud,” that Joseph W. Traxler (64) has been sentenced to a five year prison term after pleading guilty to committing an $8 million fraud. He was also ordered to pay more than $5 million in restitution.
After leaving the company where he committed the fraud, in 2009 Traxler moved on to the Minnesota School of Business in Shakopee, where he became accounting department chair. He started a forensic accounting program at the school, and was teaching the fraud course. By doing so, he disproved the old adage, ‘those who can’t do, teach’. He not only could do, but he was popular and considered a very good teacher.
Quoting from Baumann:
Minnesota School of Business (MSB)-Shakopee’s accounting department chair was sentenced Tuesday to five years in prison for his role in defrauding banks to the tune of roughtly $8 million …
Joseph W. Traxler, 64, was senior vice president and chief financial officer for the Centennial Mortgage and Funding Inc. mortgage company in Bloomington in 2007 and 2008. Traxler, of Bloomington, was sentenced in federal court in Minneapolis.
Although Minnesota School of Business-Shakopee officials declined to comment to Patch on the matter Wednesday morning, MSB officials issued a statement later in the day saying Traxler was terminated on Wednesday.
He had joined the staff of MSB-Shakopee in 2009 and had been teaching classes, including one on fraud. Under Traxler’s direction, the school began offering a Forensic Accounting Program in January – designed to provide students with the knowledge, technical skills and professional habits to pursue a career helping businesses detect and prevent fraud.
It is no secret that many in business are challenged ethically and legally. If anything, business professors are much less ethical than the typical business professional. I’ve seen some auditing profs who were real stinkers.
I should add that for me, it is important to live an honorable life. I recognize that many choose to live a life with occasional dishonor. Education is about the student, not about the professor. I have seen far too many professor colleagues who either have forgotten this, or never learned it.
Debit and credit – - David Albrecht