Just when you thought a hefty severance package couldn’t get more outrageous, Western New Mexico University (WNMU) President Joseph Shepard has proven otherwise. After squandering over $360,000 of public funds, Shepard is walking away with a $2 million “goodbye gift,” thanks to the university’s Board of Regents. And no, this isn’t an early April Fool’s joke—you read that right. Read on to know how Shepard dug deep holes in the taxpayers’ pockets.
University Funds for Personal Perks and Exotic Trips
Let’s take a moment to appreciate Shepard’s luxurious taste in travel. In one particularly fancy instance, he sent six university staffers to the Ritz-Carlton in Palm Springs for training, spending to the tune of $25,500 — an amount that could’ve easily funded a few scholarships. Meanwhile, the same course was available online. But why settle for the digital age when you can have palm trees and overpriced cocktails, right?
It doesn’t end there. A state audit uncovered a staggering $214,000 in “noncompliant” travel expenses — think international trips, plush hotels, and meals that clearly weren’t for the frugal-minded. Apparently, a taxpayer-funded trip to exotic locales is just part of the deal when you’re the university president. Most eyebrow-raising was Shepard’s use of university funds to attend non-university events, including a conference for his wife, Valerie Plame, a former CIA officer.
High-End Shopping Spree
As if Shepard’s travel habits weren’t enough to raise eyebrows, he also had a thing for luxurious home furnishings — again, courtesy public funds. Nearly $25,000 was charged to the university for custom furniture of his on-campus residence. Shepard’s wife didn’t miss out either, snagging a $1,488 oriental sofa from a high-end brand.
The Big Exit Package
After being caught in a web of financial misconduct, Shepard resigned from his post as president. But the Board of Regents, seemingly eager to help him land softly, approved a $1.9 million severance package. As part of the agreement, Shepard will transition into a tenured teaching position with a salary of $200,000 annually. He’s guaranteed at least five years in the gig, adding another $1 million to the taxpayer’s tab.
In the end, while taxpayers foot the bill, Shepard sails into the sunset with a golden parachute.
