| Myron S. Scholes |
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He earned a Bachelor's Degree in Economics from McMaster University in Hamilton, Ontario in 1962 . At the University Of Chicago , he earned an MBA in 1964 and a Ph.D. in 1969 . He co-founded the ill-fated Long-Term Capital Management (LTCM) in 1994 . He is currently a professor at Stanford University and has also been on the faculty at the MIT Sloan School Of Management . In 2005, Scholes was implicated in the case of Long-Term Capital Holdings v. United States, where he attempted to invest funds from his company, Long-Term Capital Holdings, in an illegal tax shelter in order to avoid having to pay taxes on profits from company investments. It was found that Scholes and his partners were not eligible for $106 million in tax deductions they had claimed. Additionally, they were fined more than $40 million by the IRS. SEE ALSO EXTERNAL LINKS
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