After Tom Petters was found guilty on 20 counts of fraud and money laundering last week, the College of St. Benedict apparently felt it prudent to distance itself from the $3.5 billion Ponzi-schemer's surname.
The auditorium was named after Petters' parents, Fred and Rosemary, after he handed the college a $3 million pledge. According to the Strib, "[St. Benedict] made its decision in consultation with the Fred and Rosemary Petters family, who it says are 'cherished friends' of the college."
The college has renamed the Petters Auditorium to Escher Auditorium. The name pays tribute to the late Sister Firmin Escher, a nun at the Monastery at St. Benedict who helped the school construct its Benedicta Arts Center, and was not the mastermind behind any Ponzi schemes.