South Carolina School Lawsuit Might Force It to Close
By Colleen Casselton
Charleston Southern University say it is involved in a multi-million dollar lawsuit that may force it to close if a settlement is not reached. Hundreds of investors swindled by an economics professor at the school are suing the university over their losses.
The investors lost between $60 and $80 million. Nine of the investors swindled by Albert E. Parish, Jr. have rejected the school's offer of $3.9 million in restitution.
Attorneys for the school have requested more time to review the school's finances.
Parish has plead guilty to defrauding investors and will be sentenced in a about a month.