onPhilanthropy: Articles: Important Legal Ruling Impacts Planned Giving Marketing: "Important Legal Ruling Impacts Planned Giving Marketing
Thursday, August 27, 2009
By: Jonathan Gudema, Esq.
The U.S. Court of Appeals for the 9th Circuit issued an opinion in a case involving Robert Dillie, this past June. Mr. Dillie operated a fraudulent foundation between 1996 and 2001. This foundation was in actuality a ponzi scheme which issued $55 million in gift annuities to over 400 donors, sold through investment advisers who were receiving commissions on the sales of new gift annuities. He is now serving 121 months in prison for his crimes but the legal fallout from his nefarious operation lives on."
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