A Harvard Business School alumnus has been charged with defrauding fellow graduates out of millions of dollars by falsely claiming he could predict Warren Buffett’s Berkshire Hathaway’s next investments. Vladimir Artamonov, 46, was arrested in Elkridge, Maryland, and faces charges of securities fraud, wire fraud, and investment adviser fraud, according to federal prosecutors in Manhattan. Artamonov allegedly told investors that his ‘airtight’ strategy, dubbed Project Information Arbitrage, could generate returns of 500% or more by identifying stocks Berkshire would buy before the conglomerate disclosed its investments. Instead, he reportedly invested in high-risk short-term options unrelated to Berkshire and used a Ponzi-like scheme to repay earlier investors with funds from new ones. Authorities claim Artamonov misappropriated over $4 million, using some for personal expenses and repaying less than $400,000. New York Attorney General Letitia James had previously secured a court order in February 2024 to halt his alleged fraudulent activities. Artamonov’s lawyer, Philip Cohen, declined to comment on the indictment, citing his client’s claims of ongoing mental health issues, including psychosis. The case, U.S. v. Artamonov, is being heard in the U.S. District Court for the Southern District of New York. Berkshire Hathaway and Warren Buffett have not been implicated in any wrongdoing.
Harvard grad who claimed to predict Buffett’s investments indicted for Ponzi fraud
