Neil Barofsky will become a Senior Fellow at New York University School of Law on April 1, 2011, after leaving his post as Special Inspector General for the Troubled Asset Relief Program (SIGTARP).
A 1995 magna cum laude graduate of NYU Law, Barofsky will be affiliated with the school's Center on the Administration of Criminal Law and with the Mitchell Jacobson Leadership Program on Law & Business, a joint program of the Law School and NYU's Leonard N. Stern School of Business. Barofsky is expected to teach a course this fall relating to the government’s response to the recent financial crisis.
"This is a very exciting development for the Law School," said Dean Richard Revesz. "With his background as a federal prosecutor, and then as chief watchdog for TARP, Neil will bring unique perspective to a range of subjects, particularly financial crime and government regulation of the financial system. All of us here will benefit by having him here as a teacher and a colleague."
Mr. Barofsky said, “I am absolutely thrilled to be returning to the Law School. I am deeply thankful to Dean Revesz, the Center on the Administration of Criminal Law, the Jacobson Leadership Program, and the entire NYU community for giving me this wonderful opportunity both to teach and to more deeply examine the important issues that exist at the intersection of law, business and government regulation.
On February 14, 2011, Barofsky wrote President Obama to tell him that he planned to resign from his Special Inspector General post on March 30, 2011, a position that he held since the office was created in December 2008, following his confirmation by the United States Senate. At SIGTARP, Barofsky established the office and oversaw the creation of its Audit and Investigations Divisions, through which he was responsible for auditing and investigating the purchase, management, and sale of assets under the $700 billion Troubled Asset Relief Program. In that position, Barofsky issued more than 20 reports to Congress, testified 20 times before Congress, and oversaw investigations that led to the conviction of 15 individuals for TARP related crimes and the recovery or avoidance of loss through fraud of more than $700 million. Prior to assuming the position of Special Inspector General, Barofsky was a federal prosecutor in the United States Attorney’s Office for the Southern District of New York for more than eight years, where he headed the office’s Mortgage Fraud Group, led the prosecution that resulted in the convictions of the top officers at Refco Inc., and led the investigation that resulted in the indictment of the top 50 leaders of the Revolutionary Armed Forces of Colombia (FARC) on narcotics charges.