A former officer of a Detroit nonprofit has pleaded guilty to embezzling over $40 million from the organization. This scheme involved diverting funds intended for community services into personal accounts. This case highlights ongoing issues of financial misconduct in nonprofits, raising concerns for investors regarding the governance and oversight practices in charitable organizations.
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The indictment and guilty plea of the ex-officer draw attention to potential vulnerabilities in nonprofit sectors, leading investors to approach related organizations with caution due to governance issues. Nonprofits that heavily depend on grants may face funding scrutiny as a result.
Nov 16, 2024, 3:33 PM
Elon Musk posted on X his endorsement of the billionaire CEO of Cantor Fitzgerald on Saturday.
Nov 16, 2024, 7:46 AM
We’re less than two weeks removed from Donald Trump’s second presidential election win, and investors, economists, and citizens alike are still trying to figure out what it all means.
Nov 15, 2024, 4:17 PM
The post-election rally has lost steam, with the S&P 500 down 2 percent for the week. But major stock indexes are still up since Election Day.