April 29, 2015

The trustees of the Victor E. Perley Fund, a private foundation for the benefit of underprivileged children, agreed to pay $1.025 million to settle charges the board allowed the foundation’s new leader, Richard A. Basini, to fund his own interests and those of a fellow trustee, James J. Cahill, resulting in the Perley Fund’s purchase of a million-dollar Southampton home that Basini used as his private residence. NY