Wednesday, February 11, 2009

Intrepid Potash President/COO Fired For Lying About School Degrees

Barry Minkow strikes again - Patrick Avery, President and COO of fertilizer maker Intrepid Potash was made redundant today after Fraud Discovery Institute earlier announced and later the company confirmed that Avery had previously lied about two college degrees.

Avery was hired in December 2007, and according to the company's IPO prospectus he holds a B.A. in Biology and Chemistry from University of Colorado, an M.S. in Engineering from Loyola, and an MBA from Pepperdine.

Minkow had this to say:
"In this post Madoff environment it is truly amazing that the average investor who relies upon SEC filings to be accurate before making an investment decision cannot even rely upon thebiographical portion of those filings, not to mention what else may be inferred” said FDI Co-Founder, Barry Minkow. “At this point, all eyes are on the company Board as they must send a message to the Street and employees alike, that this under-oath misrepresentation to the SEC is not acceptable.”
Surprisingly, of the three, Avery had not formally attended Colorado and Loyola. And somehow Pepperdine let him in without an undergraduate degree, although being located im Malibu, 50 feet away from the Pacific Ocean makes this little oversight totally, like, forgivable. Sphere: Related Content
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Kurt Osis said...

the reality is I'd rather invest in a company run by someone with the common sense and BS skills to be able to lie about having attended college and fake it effectively than to invest in a company run by most of these idiots who actually did attend HBS.

I really wish Minkow would do something better with his time.

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