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Oxford, Ohio (AP)

Ohio school returning donations from Petters

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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.

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Information from: The Cincinnati Enquirer, http://www.enquirer.com

(Copyright 2009 by The Associated Press. All Rights Reserved.)