Monday, January 25, 2010

AG Edmund Brown Recovers College Scholarship Funds Raided by Trustee

Mendocino, Calif-Attorney General Edmund G. Brown Jr. announced a settlement with James L. Harrison, 62, of Ukiah, after he “looted college scholarship funds” from a Trust intended to benefit female graduates of Ukiah High School pursuing careers in medicine.

Brown’s office, working with the Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Institutions, recovered both the principal and the interest-totaling over $650,000-owed to the Trust. In the settlement, Harrison agreed to a lifetime ban from serving as a charitable trustee or officer of a public benefit corporation.

“Harrison looted college scholarship funds intended to help women graduating from high school achieve their dreams,” Brown said. “Today’s agreement makes sure that he is never in a position to steal from a non-profit again.”

Full Article and Source:
Brown Recovers College Scholarship Funds Raided by Trustee

4 comments:

Anonymous said...

No jail time?

StandUp said...

Thank you Edmund Brown! This is an important step. Rarely are funds ever recovered.

Betty said...

Perhaps jail time will follow?

Carol said...

Thank you, AG Brown.