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April 13, 2016

Insurance Company Sues Charities for Return of $2.1 Million

A life insurance company in Waco, Tex., has filed suit against more than two dozen nonprofits for the return of $2.1 million in donations made by the company’s former chief executive, reports The Waco Tribune-Herald.

A trustee of Life Partners Holdings alleges that the donations were made from funds the former executive received fraudulently and that the money belongs to the company’s investors.

Last month, the former chief executive was accused of using an animal-welfare charity to evade taxes and steal money for his mistress.