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Miami University of Ohio and the Order of St.
Benedict have agreed to give up $7 million they received from the
foundation of Minnesota businessman Tom Petters, who was convicted
of running a $3.7 billion Ponzi scheme.

      The Petters foundation donated just over $2 million to the
Benedictines' St. John's Abbey and St. John's Preparatory School in
Collegeville, Minn., and $5.2 million to Miami University in
Oxford, Ohio.

      Doug Kelley, the court-appointed receiver leading the effort to
recover funds to compensate victims of the fraud, announced the
agreements in court filings Friday. U.S. District Judge Ann
Montgomery will hold a hearing on the settlements May 20.


      Petters was sentenced three weeks ago to 50 years in prison on
fraud, money laundering and conspiracy charges. He's preparing an
appeal.

Gallery

Minn. judge approves sale of Petters' Wayzata home

Petters files appeal of fraud conviction and sentence

Reaction to Petters' 50-year prison sentence

Petters gets 50 years in prison for fraud scheme

Crime, Law and Justice

Miami University of Ohio and the Order of St.
Benedict have agreed to give up $7 million they received from the
foundation of Minnesota businessman Tom Petters, who was convicted
of running a $3.7 billion Ponzi scheme.


Receiver recovers $7M in tainted Petters donations

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