Faustian pact

Cannot understand at all the article on today's NY Times, "Quiet Doctor, Lavish Insider: A parallel life". Dr. Gliman, a world-renowned professor in Uni. of Michigan in Ann Arbor with $258K/yr pay, is now ostracized by Uni. of Michigan and was under investigation by SEC for insider trading through his association with hedge funds. But Dr. Gliman has no financial distress (actually, he has been pretty well-off), his payment from hedge funds was only $100K/yr and he is respectable enough that he served as a chairman of drug advisory panel in FDA. It is always justified for Uni. professors to serve as consultants for information exchange with industry. But why a successful and celebrated professor wanted to have Faustian pact with hedge funds in Wall Street? I never understood this kind of split personality, nor did I understand the motive of recent senseless shooting rampage in Connecticut by a talented student.