Case Study: Con artist steals millions claiming tax-exempt status
Nonprofit organizations have struggled enough through the economy the past five years without having bogus charitable groups luring and ripping off potential donors.
Unfortunately, scams are all too common these days. Here is an example of one of the biggest ones.
In a 2013 case in Tennessee, a con artist bilked nearly $24 million in assets out of donors before being arrested and found guilty of mail fraud, wire fraud and money laundering. He was sentenced to 31 years in prison and ordered to pay $6 million in restitution to 190 victims.