Ole Miss to return most of $402,100 donated by businessman sentenced in $100M Ponzi scheme
The University of Mississippi has agreed to return an additional $310,169 donated to the school's Athletics Foundation by a former businessman sentenced to almost 20 years in prison for operating a $100 million Ponzi scheme.
In her latest report filed in federal court, Alysson Mills, the federal receiver appointed to try to recoup some of the investors' money lost in the Ponzi scheme, said Ole Miss agreed to return the $310,169 to go along with the $39,667 it previously returned for unused 2018 football and 2019 baseball tickets.
Ole Miss and its Athletics Foundation had nothing to do with Arthur Lamar Adams' Ponzi scheme.
Adams, who owned Madison Timber Properties Co., gave $402,100 to the Ole Miss Athletic Foundation in the past 10 years, Mills said.
Rea more: https://www.clarionledger.com/story/news/2018/12/25/ole-miss-return-money-given-ex-businessman-ponzi-scheme/2406185002/