AP NEWS

Ex-president sued by U of L wants school to cover his costs

May 8, 2018
FILE - In this Feb. 5, 2016, file photo, then University of Louisville president James Ramsey addresses the media in Louisville, Ky. The University of Louisville sued its former president on Wednesday, April 25, 2018, accusing Ramsey of overseeing elaborate efforts to steer millions of dollars from the school’s investment arm into unauthorized ventures, depleting the endowment while padding his own compensation. (AP Photo/Timothy D. Easley, File)
FILE - In this Feb. 5, 2016, file photo, then University of Louisville president James Ramsey addresses the media in Louisville, Ky. The University of Louisville sued its former president on Wednesday, April 25, 2018, accusing Ramsey of overseeing elaborate efforts to steer millions of dollars from the school’s investment arm into unauthorized ventures, depleting the endowment while padding his own compensation. (AP Photo/Timothy D. Easley, File)

LOUISVILLE, Ky. (AP) — The former president of the University of Louisville wants the school’s investment arm he’s accused of mishandling to cover his legal expenses in its lawsuit.

The Courier Journal reports James Ramsey filed a motion this month asking a judge to order the University of Louisville Foundation to pay his expenses because the case is connected to his service for the nonprofit.

The university and its foundation sued Ramsey last month, accusing him of overseeing schemes to steer millions of dollars from the foundation into unauthorized ventures, depleting the endowment while padding his own compensation.

Ramsey says the foundation is required to indemnify him by its bylaws, which have since been changed.

University spokesman John Karman says the intentional misconduct outlined in the lawsuit means Ramsey isn’t entitled to indemnification.

___

Information from: The Courier-Journal, http://www.courier-journal.com