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August 30, 2008 1:24:00 AM CDT

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Oral Roberts University Prez Steps Down

Posted Nov 23, 07 11:43 CST in Arts & Living 

(Newser) – The president of Oral Roberts University resigned today amidst allegations of misusing school funds, the AP reports. Richard Roberts, son of founder Oral, faces a lawsuit claiming he spent university money on a life of luxury—including a $39,000 shopping spree and $29,000 trip to the Bahamas. Roberts has denied the accusations, and said today that he loved the university "with all my heart."

One ORU professor called the move "good news for the university," and a former regent who quit due to alleged misspending 20 years ago said the resignation was inevitable. "You can't take the money of God's people and spent it any old way," he said. School regents will meet early next week to decide how to choose a new school president.

Sources Associated Press, Associated Press

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John Swails, his wife, Joy Swails, Paulita Brooker and Tim Brooker, from left, pose for a photo across the street from the large praying hands at Oral Roberts University in Tulsa, Okla. on Friday, Oct....   (Associated Press)
A campus security car stops below the large praying hands at Oral Roberts University in Tulsa, Okla. on Friday, Oct. 5, 2007. Embattled Oral Roberts University president Richard Roberts, facing accusations...   (Associated Press)
Richard Roberts, president and chief executive officer of Oral Roberts University, is shown in Tulsa, Okla, in this Sept. 30, 2004, file photo. He has resigned his position with immediate effect. (AP...   (Associated Press)
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