Cathedral H.S. doesn't have $250K to repay swindler Petters' gift
In the latest installment of chaos and potential ruin visited upon those touched by convicted swindler Tom Petters, Cathedral High School says it doesn't have the money to repay $250,000 he donated to the school to build an elevator.
The money is part of about $12 million being tracked down by a court-appointed receiver. The school had no idea that the donation, and two other smaller ones, were the profits of ill-gotten gains.
Cathedral wants to do what's morally, legally and ethically right, Mike Mullin, the school's president, told the St. Cloud Times. But how that gets done without impacting the school's day-to-day operations will be a challenge. One possibility the school's board would like to avoid: Hiking tuition.
In December, the monks of St. John's Abbey voted to return a $2 million gift from the Thomas J. Petters Family Foundation for the construction of the Petters Pavilion and to remove the name.