Ex-CFA Institute Executive Pleads Guilty to $6 Million Theft (1)

The CFA Institute’s former chief marketing officer pleaded guilty to embezzling almost $6 million from the financial education group and another company.

Michael J. Collins now faces as long as nine years behind bars after admitting he stole the money to fund a lavish lifestyle that included club memberships, travel and the purchase of a $150,000 engagement ring. Collins, 61, is expected to be sentenced in June on two counts of grand larceny, Manhattan District Attorney Alvin Bragg said Wednesday.

Collins, who worked at the CFA Institute from 2016 to 2022, was charged last June with using his position ...