Buddy Fletcher is bankrupt—or at least his hedge fund is.

The Wall Street Journal reports:

A hedge fund managed by the investment firm of Alphonse “Buddy” Fletcher Jr. has filed for bankruptcy protection in Manhattan, as the firm faces a mounting legal challenge.

…The Fletcher firm has also faced regulatory scrutiny, including by the U.S. Securities and Exchange Commission and the Federal Bureau of Investigation, according to people familiar with the matter. Steven Stockstill, executive director of the Firefighters’ Retirement System of Louisiana, one of the Fletcher investors, said in a recent interview he has been contacted by both the SEC and the FBI about their probes. A representative for the SEC didn’t comment; a representative for the FBI declined to comment.

Here’s a question: Could Buddy Fletcher go to jail? And if he does, will Harvard have to rename the Alphonse Fletcher professorship, currently held by Skip Gates?

As a source told me for my Boston magazine article on Fletcher,

“If it were determined that the Alphonse Fletcher professorship had been endowed by a fraudster,” says a university source, “and not just any fraudster, but the first major African-American donor to the college — it would be awkward.”

It is awkward! Particularly given how high profile Skip Gates is; if you Google Alphonse Fletcher, you turn up more hits for Gates than for Fletcher himself… Can Harvard have a professorship named after a crook?