Dennis Kozlowski, Kenneth Lay… and now Stephen Walsh presents a university with a very special problem. How to blast his name off a building?
A University at Buffalo alumnus who has contributed to the college’s athletics department and is a member of the UB Foundation board has been charged with misappropriating more than $500 million in client investments.
… [Stephen] Walsh, a 1966 graduate of UB, is listed among its “Donors of Distinction.” In 2001, he pledged $250,000 to the UB athletics department. Later, the basketball office complex inside Alumni Arena was named after Walsh.
When asked about his involvement with UB, the university released a statement: “Mr. Walsh has been an inactive member of our foundation board since March 2004. Furthermore, we have a policy that prohibits investing funds with any member of our foundation board.”
