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Miami and its Foundation respond to conviction of Thomas Petters
With the guilty verdict issued Dec. 2 in the trial of Minnesota businessman Thomas Petters, Miami University and the Miami University Foundation announced they will move to complete their discussions with Douglas Kelly, the receiver appointed by the federal court, to make appropriate arrangements to return the remaining funds given by Petters to Miami University.
"The university has no interest in keeping money that Mr. Petters obtained by fraud or deceit,” said Miami President David Hodge.
Terry O’Toole, president of the Miami University Foundation board of directors, agreed “the foundation does not intend to keep any remaining funds from Mr. Petters that were obtained illegally.”