2 Nonprofits Fight to Keep Ponzi Gifts
from The New York Times:
2 New York Institutions Want to Keep Ponzi Gifts
Before Hassan Nemazee, the once-powerful business executive and Democratic donor, pleaded guilty to engineering a nearly $300 million Ponzi scheme, he gave $1.1 million to a wide range of charities and educational institutions and an additional $845,000 to political candidates and parties.
But since that money was obtained through fraudulent means, the government wants the donations back. Although many recipients have complied, two high-profile New York City institutions – the Asia Society and the Spence School – have not.