Americans give billions of dollars to charitable operations every year, but sadly not all of the recipients are legitimate.
On Tuesday, charges were filed against 4 cancer charities for allegedly scamming donors out of over $187 million.
Taking the action were the Federal Trade Commission and legal representatives from all 50 states and the District of Columbia.
The lawsuit specifies the entities charged as the Cancer Fund of America, the Children's Cancer Fund of America, the Breast Cancer Society, and Cancer Support Services, along with several directors and operators who are either related or business associates.
The complaint against them characterizes the organizations as being, "operated as personal freedoms characterized by rampant nepotism, flagrant conflicts of interest, and excessive insider compensation..."
Dubious acts allegedly perpetrated by the organizations' management are many.
Among the highlights is the use of donations for personal expenditures such as Disney vacations, jet ski excursions, and dating website memberships.
It's also said that the charities hired professional fundraisers and frequently allowed them to keep 85 percent of the money they collected.
Actual charitable uses are believed to account for only about 3% of the donation spending.
Two of the four charities involved in the filing have already agreed to take pleas and dissolve their organizations.
- Latest mortgage news: Rates jump to their highest since April 2020
- 5 ways a personal loan could help you save money
- Latest mortgage rates: Refinancing clock is ticking as rates rise
- Your Best Refinance Rates for January 2022
- Mortgage Payoff Tactic Eliminates 15 Years of Payments
- Don’t Borrow From The Bank - Borrow From Yourself
- This weekend only, leggings are buy one get one free at Yummie
- Cozy tea recipes that are peak winter aesthetic
- 5 pistachio recipes where they’re the star ingredient
- Forget the 30yr mortgage if you owe less than $822K (Do this instea…
- How to pay off your house ASAP (So simple it's unbelievable)
- Refinance Rates Remain Historically Cheap
- Today's Top Mortgage Rates in Your Area
- Reach Your Financial Goals and Help Your Money Grow with these Top Inv…
- Drowning in Credit Card Debt? Consider a Debt Consolidation Loan!