Tuesday, November 27, 2007

Businessman plans to donate $70M to Oral Roberts Univ.

TULSA, Okla. - An Oklahoma City businessman said Tuesday he planned to donate $70 million to debt-ridden Oral Roberts University, days after the school's president stepped down amid accusations that he misspent funds to support a lavish lifestyle.

Mart Green, founder of the Christian office and educational supply store chain Mardel, said he decided to help after watching media reports about the school, which recently revealed it was more than $50 million in debt. He never attended the university and does not know the Roberts family, he said.

"Let's straighten the ship," Green said at a news conference at the university. "Let's get integrity. Let's get trust built back, and the financial issues will go away."

Green said he would immediately give $8 million, to be followed by a review of the university's financial records that could take as long as 90 days. His family must approve the review before giving the remaining $62 million, he said.

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