39 | Friday, September 19, 2025Harvard Business School graduate arrested on charges he cheated fellow alums out of over $4M Print | Front Page | Email this story To:From:Message:From (email):Message:NEW YORK (AP) — A Harvard Business School graduate was arrested Thursday on fraud charges alleging he swindled fellow alumni of the prestigious school out of over $4 million in a Ponzi scheme, even assuring one investor they would soon "brag" about their "crazy gains" at the school's reunion. She said Artamonov "used his alumnus status from Harvard Business School to prey on his classmates and others while seeming legitimate and dependable." Artamonov, a 2003 Harvard graduate with a master's in business administration, used the school's alumni network to identify investors, authorities said. Instead of following that plan, Artamonov put investor money into risky short-term options, losing millions of dollars, often within days of receiving the money from investors, the indictment said. U.S. Attorney Jay Clayton said Artamonov "betrayed investors, including friends and former Ivy League classmates."