JNF Illegally Loaned $500K To CEO, NYS Regulators Say

Image via JNF marketing materials

According to the Forward:

“One of the American Jewish community’s most iconic charities appears to have broken New York state law by loaning its CEO over $500,000 to help him buy property…

Now, New York regulators are demanding that JNF quickly recover the half-million dollar loan it made to its CEO, Russell Robinson, and another, smaller loan it made to its chief financial officer, Mitchel Rosenzweig. The loans, made in the 2015 fiscal year, appear to have violated a state law barring charities from lending money to their officers…

After being alerted to JNF’s loans by an inquiry from the Forward, the office of New York State Attorney General Eric Schneiderman sent a letter to the organization on July 25, demanding that the loans be fully repaid by the end of the year.

For more, visit: forward.com/news/378051/jnfs-loans-to-officers-broke-state-law-regulators-say/