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February 16, 2016

Last of 4 Cancer Charities Targeted by Regulators to Dissolve

The Cancer Fund of America, one of four family-run disease charities charged by federal and state regulators with bilking more than $180 million from donors, has tentatively agreed to shut down as part of a court settlement, CNN reports. The Tennessee-based nonprofit is the last of the network to go out of business in connection with the unprecedented nationwide investigation involving the Federal Trade Commission and the attorneys general for all 50 states.

The fund and the affiliated Cancer Support Services, Children's Cancer Fund of America, and Breast Cancer Society were accused in May of using deceptive fundraising practices and wildly inflating claims of spending on programs for patients. All were controlled by the family of James Reynolds Sr., president of the Cancer Fund of America, and had long been on charity watchdogs' radar.

The children's cancer and breast-cancer groups agreed to close in May. The Cancer Fund and Cancer Support Services contested the government charges for months before entering settlement talks last month, according to CNN. The resulting deal, which would put a court-appointed receiver in charge of the charities' dissolution, is awaiting final approval from the state attorneys general.