From The Chronicle of Higher Education (3/26/13):
An adjunct instructor of business informatics at the University of South Carolina-Upstate has received a cease-and-desist order from the state’s attorney general that accuses him of offering unregistered securities in a new private university he allegedly set up, but the instructor, Richard Routh, says it’s all a huge misunderstanding.
The attorney general’s order says Mr. Routh described his proposed “Invictus University” in detail on a Web site and invited investors to purchase stock in it. “The Web site clearly contains several invitations to invest specific amounts, even though a disclaimer says the site is not offering securities,” a news release from the attorney general’s office says.
(File under: “What were you thinking? WERE you thinking?!?”)
And Mr. Routh is an adjunct instructor no less. An adjunct, we will venture to guess, who won’t be getting any classes this fall at University of the South Carolina-Upstate this coming fall despite all this just being a “huge misunderstanding.” (And we mean, really, it just has to be, right? Right?) Nothing is gone forever on the Interwebs, so thanks to Google Cache, you too can still take a look at this prime investment opportunity.
Personally, here at the Ivory Tower home office, we’re waiting with bated breath to order our official Invictus University sweatshirts, baseball caps, and shot glasses.
And who knows? Perhaps this could have been an IU recruitment video just a skosh ahead of its time: