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September 02, 2015

Settlement to Return $4.3 Million to New York Foundation

New York State officials have reached a settlement with former trustees of the Homeland Foundation that will return to the charity more than $4.3 million authorities say was improperly used, the Poughkeepsie Journal reports.

The foundation maintains Wethersfield House in Amenia, N.Y., its formal gardens, and an on-site museum. The deal follows a state investigation of spending by trustees Lisk Wyckoff, who died in 2012, and his widow, Elizabeth.

According to state Attorney General Eric Schneiderman's office, the couple directed foundation spending that was "tainted by conflicts of interest," including seven-figure donations to Mr. Wyckoff's undergraduate and law-school alma maters and to private schools attended by their children. The charity also invested in a company headed by Mr. Wyckoff.