Edvantage - NUS-Yale rubbishes prof's claims of conspiracy

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NUS-Yale rubbishes prof's claims of conspiracy

Edvantage | Tue Jun 12 2012

Dr Jim Sleeper, a professor at Yale University claims that a source told him Yale would gain $384 million by insider trading means from the Yale-NUS partnership.

NUS-Yale rubbishes prof's claims of conspiracy

SINGAPORE - Dr Jim Sleeper's claims on Huffington Post come across almost like that of a financial thriller - a dinner in Germany reveals that Yale and the National University of Singapore (NUS) have a secret deal worth US$300 million (S$384m).

Images of men dressed in smoking jackets seated a conference table with expensive glasses of wine, big smirks and handshakes while smoking on fat cigars almost comes to mind, but that would be the Godfather.

Somehow kisses on cheeks being exchanged between professors do not seem plausible.

Meanwhile, The Straits Times reported that no such deal had been the basis to set up the Yale-NUS liberal arts college.

Dr Sleeper claimed on Huffington Post, that a source he could not reveal told him at a dinner in Germany: "There's $300 million for Yale in its deal with NUS.

"It's what you call insider trading: Yale will be cut in on prime investments that Singapore controls and restricts through its sovereign wealth fund. These will be only investments, not payments, so there's some risk. But you'll Yale's endowment will swell by several hundred million in consequence of its getting in on these ventures."

The source he claims is a senior official from a European university, and he spent the first half of his article claiming Yale venture with NUS a disgrace.

The Straits Times also quoted a Yale's press secretary Tom Conroy affirming that Yale is not receiving any "financial gain other than reimbursement of expenses".

Conroy pointed out to The Straits Times on what he said was another falsehood in Dr Sleeper's piece - that investment consultant Charles Ellis, an ex-Yale trustee, 'maintains an investment business in Singapore'.

NUS also told The Straits Times, "The reimbursement to Yale University includes (the cost of) replacing the teaching of Yale faculty actively involved in the joint planning, faculty recruitment and curriculum development for the college.

"This collaboration does not involve any investment arrangements for Yale."

Dr Sleeper meanwhile continued to believe that Singapore is another Myanmar of sorts, where citizens are not allowed any social liberties. Perhaps he did not read about a 17-year-old lashing out at a minister and not being charged for it.

abrahamr@sph.com.sg

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