[ad_1]
California Attorney General Xavier Becerra announced on July 2 that an agreement had been reached with the leaders of the Lithuanian Relief Fund Albinas Markevičius, Joseph Praske, Zina Markevičius and Arūnas Sodonas, as well as RME LLC and Washington Shores LLC related to the fund.
This agreement ended the investigation into possible illegal transactions by fund managers, illegal enrichment and the use of charitable funds for enrichment, as well as other possible misconduct.
The prosecutor’s report alleges that the fund’s representatives agreed to compensate for the possible misappropriation of 7 million. dollars It also establishes that “despite the agreement of both parties to the agreement, the interested parties question the existence of the infractions.”
Charitable activities for members of the Foundation will be prohibited.
Fund representatives strongly deny the Attorney General’s conclusions and claim that he acted in good faith for the benefit of the Fund’s beneficiaries, according to a statement distributed by representatives of the Lithuanian Support Fund.
The California attorney general disagrees with this, arguing that the investigation found four real estate units donated to charities with a total value of more than $ 6 million. the dollars were improperly sold to the board members of the fund or its partners at a significantly lower price than the market price.
The investigation also found that the foundation’s representatives did not disclose the property they received for charity in the charitable trust registry. The foundation’s activities have been studied for several years.
The prosecutor’s report indicates that the representatives of the foundation will be obliged to comply with the following provisions of the signed peace agreement:
– Fund managers must pay 7 million. dollars of damage.
– The Lithuanian Aid Fund must be liquidated immediately after complete liquidation. All remaining assets at the time of liquidation will be transferred to the California Community Fund.
– Joseph Praske and Albin Markevicius will no longer be able to serve on the board of support organizations.
“The people of California should be able to trust that generous sacrifices are being made on purpose. The directors and staff of this fund have deliberately used their responsibilities to defraud the sponsors and divert millions of dollars to charitable assets of the organization charged with protecting them. “Attorney General X. Becerra wrote in his decision. “Pursuant to this agreement, the directors and employees of the Lithuanian Support Fund are responsible for their violations and for the return of misdirected funds to charities.”
The report of the Foundation representatives affirms that its activities did not conflict with the law, and an agreement was reached with the prosecutor’s office to “avoid the costs, uncertainty and inconvenience of new litigation or other administrative actions” .
About $ 7 million will be distributed through the California Community Fund for the Education of Lithuanian Orphans and Children with Social Assistance in the Vilnius District. It also provides charity work in the village of Zelva, which includes: a business school , seminar or teacher training, financial assistance for underprivileged students with above-average grades and citizens of retirement age, “the report says.
[ad_2]
