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Details about Funes out. He paid the parent of an LSU athlete for a job
Posted on 6/4/19 at 2:29 pm
Posted on 6/4/19 at 2:29 pm
Not so bad after all for LSU
“John Paul Funes, the former head of the Our Lady of the Lake Foundation, has been accused of defrauding the organization of more than $550,000 by spending the money on charter flights, gift cards and more under the guise of his job, according to a new legal document released Tuesday.”
“An independent auditor who looked into the questionable financial transactions previously said Funes acted alone in diverting the money. And at least some of the money was allegedly used improperly to pay the parent of an LSU athlete.
He reportedly gave Foundation money to the parent of an LSU athlete, ostensibly as wages for a job, according to two sources familiar with the investigation who asked not to be identified because both said they were not authorized to speak publicly.“
LINK
“John Paul Funes, the former head of the Our Lady of the Lake Foundation, has been accused of defrauding the organization of more than $550,000 by spending the money on charter flights, gift cards and more under the guise of his job, according to a new legal document released Tuesday.”
“An independent auditor who looked into the questionable financial transactions previously said Funes acted alone in diverting the money. And at least some of the money was allegedly used improperly to pay the parent of an LSU athlete.
He reportedly gave Foundation money to the parent of an LSU athlete, ostensibly as wages for a job, according to two sources familiar with the investigation who asked not to be identified because both said they were not authorized to speak publicly.“
LINK
This post was edited on 6/4/19 at 2:32 pm
12
Posted on 6/4/19 at 2:30 pm to tigerskin
who
Posted on 6/4/19 at 2:30 pm to tigerskin
Is there new information in the link? Because what's in the thread title isn't new.
Posted on 6/4/19 at 2:33 pm to ProjectP2294
It’s an article today about a new legal document released today.
Yes, there has been previous speculation all over the place
Yes, there has been previous speculation all over the place
Posted on 6/4/19 at 2:35 pm to tigerskin
Charter flights and gift cards are hard to trace.. he could be falling on the sword by saying he used it for himself and not for players/recruits.
Posted on 6/4/19 at 2:36 pm to tigerskin
Do we know who the athlete is?
Posted on 6/4/19 at 2:37 pm to tigerskin
Damn I bought a Parking pass from this dude for the Bama football game last season
Posted on 6/4/19 at 2:39 pm to tigerskin
I'll never understand people like this. You're making 350k a year and still feel the need to embezzle money from your organization? Damn, son.
Posted on 6/4/19 at 2:39 pm to tigerskin
that's too small of an amount to throw away that great position and pay
Posted on 6/4/19 at 2:45 pm to dagrippa
Smart?
Posted on 6/4/19 at 2:56 pm to Zach Lee To Amp Hill
It's not really fair to say the former player at this point. I've heard the name and it was after his career had ended at LSU.
He had nothing to do with what Funes did and covered up.
He had nothing to do with what Funes did and covered up.
Posted on 6/4/19 at 3:00 pm to Smalls
Maybe the money/ flights were not for him. Maybe they were given to others to benefit a favored group or organization.
Posted on 6/4/19 at 3:02 pm to Smalls
quote:
I'll never understand people like this. You're making 350k a year and still feel the need to embezzle money from your organization? Damn, son.
I think the counter-argument (not necessarily from a legal perspective) is that he didn't "embezzle" money from the foundation in a traditional sense since he arguably wasn't "stealing" it. I suspect he was just using the foundation's tax exempt status to flow the money through from the donor to the intended recipient. The money was never truly meant to be "donated" to the foundation. Thus, he really didn't take anything that was supposed to be used by the foundation. The foundation was just he intermediary between the payor and intended payee.
For example, a booster likely isn't going to just cut a $50k check to a player and/or his mom. However, he might "donate" to a non-profit who then hires the mom and pays her for some do nothing job.
Posted on 6/4/19 at 3:10 pm to Alt26
quote:
I suspect he was just using the foundation's tax exempt status to flow the money through from the donor to the intended recipient. The money was never truly meant to be "donated" to the foundation. Thus, he really didn't take anything that was supposed to be used by the foundation. The foundation was just he intermediary between the payor and intended payee.
And if that’s the case, then no, it’s not embezzlement.
It’s money laundering.
Posted on 6/4/19 at 3:11 pm to Smalls
quote:
350k a year
Doesn't go nearly as far as you'd think.
Posted on 6/4/19 at 3:12 pm to tigerskin
quote:
Not so bad after all for LSU
I'm not sure you understand the ramifications of those allegations. "Acted alone" doesn't serve as a shield to LSU.
Posted on 6/4/19 at 3:15 pm to Alt26
This scenario is not necessarily all bad for the Foundation, which might easily persuade the donor to make a fully tax deductible donation to the non-profit with the understanding that only a portion will be used for a designated purpose.
Posted on 6/4/19 at 3:17 pm to Jim Rockford
quote:
Doesn't go nearly as far as you'd think.
Under what assumption do you make that claim. Seems strange that someone wouldn't know how far 350K a year will go.
Why would I or anyone else not know?
Posted on 6/4/19 at 3:19 pm to Smalls
quote:
I'll never understand people like this. You're making 350k a year and still feel the need to embezzle money from your organization? Damn, son.
It's pretty simple. You know what's better than 350? 450.
Posted on 6/4/19 at 3:37 pm to saintsfan22
quote:
It's pretty simple. You know what's better than 350? 450.
better than 450? 350 and no charges.
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