Letters and Opinion

JA's Miller acted appropriately

May 8, 2010

We represent Jeffrey M. Miller. As the former CEO of Junior Achievement of Central Indiana, as well as the former president of the Experiential Learning and Entrepreneurship Foundation (ELEF), Miller is concerned with the potential implications of the latest article regarding JA and ELEF titled “Fate of fund a JA mystery” published in the May 3 IBJ.

Just to be clear: From Miller’s perspective, there is no mystery. Miller acted appropriately and fairly in all ways related to the funds from the Charles D. Byers Merit Award.

Because of the economic turmoil in 2008, ELEF placed this award money with JA at a guaranteed 5-percent rate of interest. Miller believes this was a good investment and guaranteed earnings for the Charles D. Byers Merit Award. This money was committed to JA for a term of 10 years.

From all information that Miller had or has, JA still remains in possession of this money. At the time Miller resigned from JA as CEO in December 2008, all monies from this donation were fully and fairly accounted for. And all actions that he took with regard to this money—and any other monies—were fully accounted for and fairly authorized as well as completely legitimate.

Thus, there is no mystery as far as Miller’s handling or investment of this money or any other monies. It was all fully authorized; it was all fully accounted for; and it was not mysterious in any way. The only real mystery is the lack of reporting regarding the current status of the money.

____________

Kevin W. Betz

Betz & Associates

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