Former Florida State University Finance Professor Sentenced to Prison for Embezzlement

Today, former Florida State University (FSU) Assistant Professor of Finance, James S. Doran PhD, 40, of Boulder, Colorado, was sentenced to 13 months in prison and a $15,000 fine for embezzlement concerning a program receiving federal funds.  The sentence was announced by Christopher P. Canova, Acting United States Attorney for the Northern District of Florida.

At trial, the government presented evidence that, between May 2010 and March 2011, Doran, while employed at FSU’s College of Business, intentionally embezzled money from the Student Investment Fund Inc. (SIF).  The SIF was developed to give business students practice in conducting stock purchases and managing an investment portfolio.  Doran, who oversaw the SIF as a faculty advisor, made a series of transfers totaling more than $650,000 from the SIF to his own personal investment account.  He also used $10,000 in SIF monies to pay for a performance evaluation of his personal investment fund.  Doran returned the monies after an audit disclosed his illegal transfers.  Doran was convicted on November 19, 2015.

The case was investigated by the United States Secret Service, the FSU Police Department, and the FSU Office of Inspector General Services.  It was prosecuted by Assistant United States Attorneys Gary K. Milligan and Jason R. Coody.

The United States Attorney's Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General.  The office strives to protect and serve the citizens of the Northern District of Florida through the ethical, vigorous, and impartial enforcement of the laws of the United States, to defend the national security, to improve the safety and quality of life in our communities through the protection of civil rights, and to protect the public funds and financial assets of the United States.  To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website.  For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.