Bernard Madoff claimed to have graduated from Hofstra Law School, but this was factually incorrect as Hofstra did not establish its law school until 1970, years after Madoff received his undergraduate degree. Media reports had often erroneously reported Madoff as a Hofstra Law School graduate. Additionally, Madoff's SEC filings and background check did not provide details on his educational history. Experts note that lying about credentials is common in the unregulated hedge fund industry and could indicate a serious insensitivity to the truth.

1. Madoff EducationalRecord Sketchy
ChrisGlynn| December18, 2008
The oft-reportederrorthatBernardMadoff graduatedfrom HofstraLaw School isa curiousstrandin the
webof deceitMadoff wove enroute to mastermindinga$65 billionPonzi scheme.
The Web site forhisinvestmentmanagementcompanystatedMadoff wentintobusinessin1960, “soon
afterleavinglawschool.”
But HofstraUniversitypresscontactSuzanne Shareef told HedgeFund.netthatwhile Madoff receivedhis
undergraduate degree in1960, he didnot attenditslaw school.
In fact,the universitydidnotestablishitslaw school until 1970, graduatingitsfirstclassin 1973.
The mediainits coverage of the Madoff scandal has oftencitedMadoff as a Hofstra Law School
graduate—afactual errorThe AssociatedPressacknowledgedinaDecember13 correction.
The NewYork Poston Friday,December13,notedMadoff “paid hiswaythroughlaw school workingas a
lifeguardatRockawayBeach,”locatedinNew York.
However,HofstraLawSchool isa full-time dayprogram, andMadoff neverhintedatan additional alma
matter. A check of the U4 registrationMadoff filedlistedonthe SECWebsite,meanwhile,didnot
provide hiseducationalbackground.
“People inthe moneymanagementindustryare prone tolying,”saidEdwardSiedle,aformerSEC
attorneywhose BenchmarkFinancial isaFlorida-basedcompanysetuptoinvestigateinvestmentfraud,
“and inmoneymanagementthere isacertaincomfortlevel withfraud.”
Lyingabout educational background,aswell asinvestmentperformance,iscommonplace,Siedlesaid,in
particularinthe unregulatedhedge fundindustry.

2. Misrepresentingeducational backgroundisindicative of “aseriousinsensitivitytothe truth,”Siedle said.
“My fatherusedtosay, ‘Longaftera war,everybodyisacolonel,’”he quipped.
At HofstraUniversity,Madoff wasputon the trustee boardin2004. He wasremovedafterwordof his
fraudbroke.
“The fact isa veryrudimentaryexamwouldhave uncoveredalot,”Siedlesaid.