Clark Pellegrini is a 1960 graduate of Michigan Technological University with a Bachelor of Science in accounting and began working for MTU in 1966 as an internal auditor. In 1986 Pellegrini was appointed vice president and treasurer of Michigan Tech Ventures, Inc. and Technology Development Corporation, subsidiaries of the MTU Endowment Fund and predecessors to the Ventures Group Inc. In 1990 Pellegrini resigned from Ventures Group Inc. and in 1992 he was indicted by the State Attorney General's office on charges of embezzlement and conspiracy. In 1993 he plead no contest to one felony count of state tax evasion and one misdemeanor count of commercial bribery. __Edward J. Koepel is a graduate of Michigan College of Mining and Technology, earning a Bachelor of Science degree in 1956 and Master of Science degree in 1959. Koepel joined the faculty teaching metallurgical engineering in 1958, Koepel worked in a variety of positions at MTU including in the admissions department, Director of Employee Relations and Vice President of Operations and Finance. In 1988 Koepel resigned from his position at Michigan Tech to assume full time duties as Chairman of the Ventures Group Inc. Koepel resigned from Ventures Group in 1991 and in 1992 he was indicted on charges of embezzlement and conspiracy by the Michigan State Attorney General's Office; he subsequently plead no contest to one felony count of state tax evasion and one misdemeanor count of commercial bribery. __In 1981 Michigan Technological University, through its endowment fund, capitalized a private corporation, Michigan Tech Ventures, Inc. In 1985 the Technology Development Corporation was developed as a sister corporation to the Michigan Tech Ventures. Inc, the following year MTU formed the Educational Support Institute (ESI) a non-profit organization to facilitate the transfer of patents and development from the university to the public. ESI formed The Ventures Group, Inc. a for-profit organization. The mission of The Ventures Group, Inc. was business development, stimulating the local economy through business start-ups, business growth and saving and creating jobs. The objective of The Ventures Group was to enable Michigan Technological University to fulfill its economic development responsibility to the community by successfully managing nontraditional gifts through the Educational Support Institute, stimulating economic development and growth and remaining financially viable and stable. The Ventures Group, Inc. sought to obtain their objectives through utilizing assets such as land, buildings, machinery, people and technology. The group invested in local businesses and properties in pursuit of its objectives. __The Ventures Group, Inc. came under legal scrutiny concerning the use of funds, possible tax violations and embezzlement. An investigation led by the Michigan State Police and the State Attorney General's office led to indictments and convictions on charges of embezzlement against two Ventures Group leaders, Edward Koepel and Clark Pellegrini.