U Of L Files Suit Against James Ramsey Over Misuse Of Funds

posted by Will Clark - 

LOUISVILLE, Ky. -- The University of Louisville is taking former president James Ramsey to court.

The university's Board of Trustees and the U of L Foundation are suing Ramsey and his Chief of Staff Kathleen Smith, alleging the pair conspired to misuse funds.

In the suit filed in Jefferson Circuit Court, U of L claims Ramsey, Smith and "other former Foundation officials" put money into unauthorized ventures using methods that were designed to avoid scrutiny.

It also alleges Ramsey and Smith colluded to give themselves and others excessive compensation, causing the Foundation a significant loss of money.

Foundation Chairman Earl Reed says filing the suit "is the right thing to do."

Steve Pence, Ramsey's attorney, has not responded to a request for comment on the suit.

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