More news from the University of Louisville Foundation saga today, this time coming from its longtime attorney, David Saffer.
According to a new report from WDRB, Saffer, who has worked for the foundation since 2008, said there was separate accounting to hide the super-secret compensation of over $20 million to President James Ramsey and other administrators.
Saffer told the board on Tuesday, “If you want my honest opinion, I believe it was done for obfuscation purposes, clearly.” However, he later said he shouldn’t have used the word ‘obfuscation’ because it was only done to hide the payouts from other board members.
Foundation interim executive director Keith Sherman issued this statement in response to Saffer’s comments:
Earlier today when answering a question our legal counsel David Saffer offered an opinion regarding the Foundation’s creation and use of DCPA, LLC. I cannot emphasize enough that the Foundation is now operating with full transparency and will continue to do so to ensure the trust of our donors and UofL students, faculty and staff, because it’s the right thing to do. Our governance review is on-going and we are working diligently to meet the high standards demanded of our mission to support the University of Louisville’s academic pursuits.
New board member Papa John was very critical of Ramsey and the foundation under Ramsey’s watch on Tuesday.
WDRB has all the details and the whole story here.