{"id":289783,"date":"2011-03-04T19:39:58","date_gmt":"2011-03-04T19:39:58","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/04\/london-school-of-economics-director-resigns\/"},"modified":"2011-03-04T19:39:58","modified_gmt":"2011-03-04T19:39:58","slug":"london-school-of-economics-director-resigns","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/04\/london-school-of-economics-director-resigns\/","title":{"rendered":"London School of Economics director resigns"},"content":{"rendered":"<p><div readability=\"91.6212749906\"><span id=\"fb-recommend\"\/><br \/>\n<span>By Ben Rooney, staff reporter<\/span><span>March 4, 2011: 2:35 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK (CNNMoney) &#8212; The London School of Economics announced the resignation Friday of a director who has been criticized for his links to the government of Libyan leader Moammar Gadhafi.<\/p>\n<p>Sir Howard Davies, who accepted $50,000 to advise Libya&#8217;s sovereign wealth fund in 2007, said he hoped to avoid further damage to the school&#8217;s reputation.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>In his resignation letter, Davies said it was &#8220;reasonable&#8221; for him to have accepted money from the Libyan Investment Authority, but he acknowledged that the decision &#8220;turned out to be a mistake.&#8221;<\/p>\n<p>&#8220;There were risks involved in taking funding from sources associated with Libya and they should have been weighed more heavily in the balance,&#8221; he wrote.<\/p>\n<p>The Gadhafi regime has drawn international condemnation for its violent crackdown on anti-government rebels, who have wrested control of several large cities outside of the capital, Tripoli.<\/p>\n<p>The LSE Council also announced that it has commissioned an outside inquiry into the school&#8217;s relationship with Libya and with Gadhafi&#8217;s son, Saif, who received a PhD from the prestigious university in 2008.<\/p>\n<p>The probe will examine, among other things, the &#8220;academic authenticity&#8221; of Saif Gadhafi&#8217;s doctoral thesis. Davies said he believes the degree was &#8220;correctly awarded,&#8221; though he said the school is &#8220;currently reviewing the evidence.&#8221;<\/p>\n<p>&#8220;And there was no link between the grant and the degrees,&#8221; he said, according to the letter.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>In addition to Saif Gadhafi&#8217;s academic record, the inquiry will look into the School&#8217;s decision to accept nearly $2.5 million from the Gadhafi International Charity and Development Foundation in 2009. So far, the LSE has received about $480,000 from the charity.<\/p>\n<p>It will also look into a $3.6 million contract LSE Enterprise, a commercial subsidiary of the university, had with Libya&#8217;s Economic Development Board to train Libyan civil servants and professionals. That deal included about $32,000 in tuition payments for the head of the Libyan Investment Authority.<\/p>\n<p>The school&#8217;s acceptance of money from the Gadhafi charity to pay travel expenses for LSE academic speakers is also under investigation.<\/p>\n<p>Peter Sutherland, chairman of the LSE&#8217;s court of governors, said Howard had been an &#8220;outstanding director&#8221; during his eight-year tenure at the university. <\/p>\n<p>&#8220;His achievements here will endure long after the current controversy has died away,&#8221; Sutherland said in a statement. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/03\/04\/news\/economy\/london_school_economics_libya\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/0e63013ebug.gif\" \/><\/p>\n<p>Read more here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/VUJXXv334c4\/index.htm\" title=\"London School of Economics director resigns\" rel=\"noopener noreferrer\">London School of Economics director resigns<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By Ben Rooney, staff reporter March 4, 2011: 2:35 PM ET NEW YORK (CNNMoney) &#8212; The London School of Economics announced the resignation Friday of a director who has been criticized for his links to the government of Libyan leader Moammar Gadhafi. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-289783","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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