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Texas Tech Univ. School of Law

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Friday, May 2, 2014

Tiger Woods Foundation Sued

GolfAs I have previously discussed, two years ago, R. Allen Stanford was convicted in Houston Federal Court for running a two-decade $7 billion Ponzi scheme and the 63-year-old is currently serving a 110 years prison term. Now Ralph Janvey, the court-appointed receiver for Stanford’s ponzi scheme, is demanding that the Tiger Woods Foundation return a $500,000 donation that the foundation received from Stanford. Janvey has filed approximately 50 lawsuits to recover the fraudulently transferred funds. There is no allegation that the Woods Foundation had any role in the ponzi scheme. Jarvey has also demanded return of funds from the Miami Heat, Texas A&M University, and the University of Miami.

See David Lee, Ponzi Receiver Sues Tiger Woods Foundation, Courthouse News Service, April 30, 2014.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/05/tiger-woods-foundation-sued.html

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