University of St. Thomas educators are relying on some unlikely mentors to instill ethics in its business and law school students Monday: a group of white-collar criminals headed by George Kline, a celebrated local financier who traded his pinstripes for a prison uniform.

Hearing from convicted criminals should help law and business students understand how to avoid trouble and its consequences, said Chris Puto, dean of the St. Thomas business college.

"Our goal is to enhance the awareness in particular of our students," Puto said. "I'm concerned that today's society may have encouraged people not to think so much of the consequences."

The consequences can be steep. Kline, for instance, is serving 6½ years in federal prison — he may get less time at a resentencing hearing earlier Monday. Kline also lost $5 million worth of stock, real estate and other property because of fines and court-ordered forfeitures.

Another participant is former Dayton's department store executive Marvin Goldstein, who pleaded guilty to two counts of insider trading for buying and selling stocks based on illegal tips provided by Kline. Goldstein, who is free awaiting sentencing, faces up to eight months in prison and a $1 million fine.

"These people made a bad decision," Puto said. "This should help future leaders and future managers."

Assistant U.S. Attorney Hank Shea, who prosecuted Kline and Goldstein, said he hopes the event deters students from crossing the line one day. "Prosecution is about more than just seeking punishment," he said. "The department's mission is to seek justice. We do that through prosecuting and deterring. One way that you deter others is by educating the public."

Students also will hear from three other men convicted of white-collar crimes:

• Former Minneapolis City Council member Brian Herron, who pleaded guilty to extorting money from a local businessman and was sentenced to a year in federal prison.

• Former stockbroker Martin Fiterman, who was sentenced to six months in federal prison last year for making a false statement in a document submitted to the Securities and Exchange Commission.

• Donald Snede, the former chief financial officer of Midwest Federal Savings and Loan, who was sentenced to two months in prison and two months home detention in 1992 for conspiracy, mail fraud and securities fraud. Snede testified against former Midwest Federal chief executive Hal Greenwood and others, helping convict them of more than 60 felonies.

The agenda also includes representatives from the Minneapolis U.S. Attorney's Office, the Internal Revenue Service criminal division, the FBI's white-collar crime unit, the U.S. Postal Inspection Service and Ron James, president and chief executive for the Minneapolis-based Center for Ethical Business Cultures.

The event, open to the public at no charge, is scheduled for 1:15 p.m. to 5 p.m. Monday at Murphy Hall, 1000 LaSalle Ave., on the university's Minneapolis campus.