For those who are familiar with option pricing modeling, they would be very familiar with the Black-Scholes model. So who is ‘Scholes’ in the Black-Scholes? Myron Samuel Scholes is a nobel prize winner (1997) for developing a value for derivative. Myron Scholes was one of those who was recruited by the famous hedge fund called Long-Term Capital Management (LTCM). The rest was history. In 1998 LTCM collapsed and require a rescue operation organized by Federal Reserve Bank of New York. Moreover, in 2005 Scholes was being accused of having used an illegal tax shelter in order to avoid having to pay taxes on profits from company investments. Source: Wikepedia