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MGM Mirage Chief Quits Amid Questions of Academic Fraud
LAS VEGAS, NEVADA --
A leading executive of one of the world's largest casino companies is resigning amid speculation regarding his resume. Terry Lanni, CEO of MGM Mirage, announced that he would be leaving the company at the end of this month after thirteen years with the gaming giant.
Lanni's office insisted that the resignation was part of a long-planned process, despite uncomfortable news in reference to Lanni's purported education. MGM websites had listed Lanni as possessing a Master of Business Administration degree from the University of Southern California.
But Wall Street Journal reporters disclosed that USC denied ever awarding Lanni a graduate-level degree. Lanni told the journal he did not finish his MBA work because he took a job, but that the school gave him him the degree as an honorary award during the 1970s.
It would probably have gone better for Lanni to keep his mouth shut, as the Journal contacted the school again, only to learn no honorary MBA degrees had been issued by USC since 1933.
Academic fraud aside, Lanni has also been in charge during a tumultuous period for MGM Mirage. The stock has plummeted in value over the last year, and rumors of severe liquidity problems haunt the ongoing construction of the CityCenter project in Las Vegas.
Jim Murren, president and COO of the casino operator, was named as successor to Lanni.
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