Harvard University professor Elizabeth Layton was laidoff from her job after her bank’s money-laundering unit discovered her stolen $2,719,500.
Layton, a senior fellow at the Hoover Institution, is the first woman to be laid off from her tenure-track job at Harvard in its history.
She says she has no plans to return to academia, which she says was her greatest passion.
But the Harvard layoffs came amid a nationwide campaign by the Trump administration and regulators to clamp down on fraud.
The government has asked for billions in new money for the nation’s financial regulators, while regulators have also proposed cutting the money-transfer fees for Americans.
Laytons job was cut on Monday, according to the Boston Globe.
The Federal Reserve Board, which oversees the Federal Reserve, said on Tuesday that it is reviewing the matter.
The president has repeatedly said the Fed should use the money to prop up the economy and create jobs.