Miami repays gifts from donor convicted of fraud

Over several years, Petters made payments on gift pledges in honor of his son, John, a Miami student who died in 2004, and his daughter, Jennifer. The gift pledges supported by Petters include:

* A pledge in 2004 to create the John T. Petters Center for Leadership, Ethics, and Skills Development; and

* A pledge in 2006 to create the Jennifer Petters Chair in Asian Business.

“The university has no interest in keeping money that Mr. Petters obtained by fraud or deceit,” Miami President David Hodge said last December.