Stealing from people, eventually trickles down to the ‘little people’!
The Woods charities have learned that they can be sued over funds they “innocently” received as a result of a Ponzi scheme.
According to legal docs in the case” Janvey v. Tiger Woods Foundation Inc., 14-cv-1567, U.S. District Court, Northern District” filed in Dallas, Texas,
Bloomberg News reported that Tiger Woods Foundation Inc. and Tiger Woods Charity Event Corp. received $500,000 in charitable contributions from R. Allen Stanford’s Ponzi scheme.
The Woods foundations tried to persuade U.S. District Judge David C. Godbey to dismiss the suit but failed.
The Woods charities argued that the complainant waited too long before suing. But Judge Godbey denied their dismissal request because of irregularities in the “discovery” rule, an exception to deadlines filing suits under the statue of limitations.
The Ponzi schemer, R. Allen Stanford, described as a “mini-Madoff”, is currently serving a 110-year prison sentence.
It is unclear whether or not Tiger had any knowledge of the inner workings of his own charities and potential liabilities.
I really doubt he did!