From Inside Higher Ed comes news that Miami University of Ohio will not be accepting a $5 million gift that it earlier received from Thomas Petters, the former CEO and chairman of Petters Group Worldwide. Last week the U.S. District Court in St. Paul, Minnesota found Petters guilty of 20 counts of wire and mail fraud. The fraud was connected to Petters running a $3.5 billion pyramid scheme. The felon’s gift to Miami of Ohio was to establish the John T. Petters Center for Leadership, Ethics and Skills Development in memory of his late son.

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Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer