Miami University of Ohio says it will return donations from Tom Petters, a Minnesota businessman convicted this week in a $3.5 billion Ponzi scheme.
Miami President David Hodge said in a statement Friday that the university in southwest Ohio is not interested in keeping money Petters obtained through fraud or deceit.
Petters had paid Miami more than $350,000 and had pledged to give $14 million, including $10 million to the business school.
It planned to start a center for leadership, ethics and skills development in honor of Petters' son, John Petters, a Miami student killed in Italy during 2004 spring break.
Lawyers plan to appeal Tom Petters' conviction from Wednesday on 20 counts of wire fraud, mail fraud, conspiracy and money laundering.
Information from: The Cincinnati Enquirer, http://www.enquirer.com
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