Donor Withdraws $1-Million Gift to Kent State U.

January 10, 2012, 1:36 pm

A would-be donor withdrew a $1-million gift to Kent State University’s athletics program last week after the student newspaper raised questions about the donor’s alleged role in a multimillion-dollar financial fraud more than a decade ago, according to The Plain Dealer, a newspaper in Cleveland. The donor, Jason M. Cope, was to be recognized by the naming of the Ohio university’s basketball court in his honor, but on Friday, hours before the dedication ceremony, Kent State announced that Mr. Cope had pulled the money. The student paper, The Daily Kent Stater, had published an article that day detailing how Mr. Cope, a Kent State alumnus, and other defendants had been accused of fraud by the Securities and Exchange Commission and later had been ordered by a court to pay $19-million in penalties. Mr. Cope denied the accusation, but was unable to be reached for comment by either newspaper. University officials refused to say why Mr. Cope had withdrawn the gift.

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tptrekker

This ungifting is something for which Kent, its AD, and its administration are going to have to Cope. As a KSU alumnus I am glad the basketball court will not carrying that baggage– and I will be alert and opposed to any move to slay the messenger at the Daily Kent Stater.
dale1

Completely agree, tptrekker. Mr. Cope should, ironically, be proud of the Kent students that dug up these details. It makes me curious, though. Did not the athletics development staff, the AD, and the president or their VP Development/Fundraising not know of these issues before agreeing to accept the funds from this individual?
yellow1

I think as long as that million dollar check wasn’t going to bounce, those folks were fine taking the cash.
tdb489

According to the Cleveland newspaper, the Athletic Director and Kent State administration were aware that Mr. Cope was found guilty of fraudulent money transactions by the SEC. Mr. Cope may think he won the battle, but the kudos go to the student newspaper reporter.

Donations always come with strings attached that is why “sweetheart contracts” are illegal. To the 1 percenters, we do not need donations from your ill gotten gains. Do not expect a Christmas card in your jail cell. We are finished with you forever.