In Foundations

Micronews on philanthropy.

Richardson’s Charity Donors Subpoenaed

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Attorneys for Frank Foy, former investment officer for the New Mexico’s Educational Retirement Board, subpoenaed Gov. Bill Richardson’s Moving America Forward Foundation. In a whistle-blower lawsuit made public Jan. 14, Foy says the state lost $90m due to worthless investments pushed byVanderbilt Financial. Vanderbilt execs had contributed to Richardson’s presidential campaign. The subpoena seeks to find out whether they also donated to the charity.

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