Prosecutors announced that Gabriel Bitran, a former associate dean at Massachusetts Institute of Technology's Sloan School of Management, has agreed to plead guilty to criminal charges of conspiracy to commit fraud for using a hedge fund to secretly funnel investors' cash into Bernard Madoff's Ponzi scheme. Bitran's misdeeds were made public as early as 2009, yet he stayed on Sloan's faculty until 2013. After several recent stories of business school students defrauding the public, the Bitran case focuses on a professor, raising questions about why a school that's responsible for teaching business ethics to future managers kept him on staff for so many years after his financial wrongdoing was made public. Sloan's decision to keep Bitran on for years after the Reuters report, and eight months after he agreed to pay the SEC some $4.8 million, suggests the school did not think the transgressions warranted stronger action against him