Cronyism and Conflicts of Interest, Addendum 1


This past week I posted about the impression of serious conflicts of interest in the personal relationships and financial dealings of Ohio Governor John Kasich, Ohio State President Emeritus Gordon Gee, and former JobsOhio director and venture capitalist Mark Kvame, as well as others in their circle. At the center of the current controversy is a $50 million investment by Ohio State in Kvame’s start-up Drive Capital.

To recount, Ohio State’s Board of Trustees voted to allow several university executives to make up to $100 million investments without the prior approval of the Board. Shortly afterwards and shortly before he resigned as President, Gee promised the $50 million investment in Kvame’s start-up. But the investment was not finalized until Gee assumed the position of President Emeritus, which had been created for him, and Joseph A. Alutto had been named Interim President.

The Columbus Dispatch submitted a public-information request for documents…

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