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July 2, 2020

Posted  July 2, 2020

The Lithuanian Assistance Foundation, together with several of its individual officers and directors, will pay $7 million and be dissolved.  The settlement resolves claims of charity fraud based on allegations that property interests donated to the Foundation were improperly transferred to members of the board, their relatives, and employees at prices significantly below the fair market value.  The Foundation failed to disclose the transfers in regulatory filings, and filed false registration renewals.  CA

Tagged in: Financial and Investment Fraud,