Interesting article entitled Charities Face Greater Threat From Ponzi Schemes Than Lost Investments  The long and the short is that a charity that received a donation from a person who had obtained those funds either illicitly or the return on an investment scheme that was a ponzi scheme, can be required to return the funds, even if they have already been spent on a good program and have been receipted for tax purposes.

Read more at: www.huffingtonpost.com

Mark Blumberg is a lawyer at Blumberg Segal LLP in Toronto, Ontario.  To find out more about legal services that Blumbergs provides to Canadian charities and non-profits please visit www.canadiancharitylaw.ca or www.globalphilanthropy.ca. He can be contacted at mark@blumbergs.ca or at 416-361-1982.

This article is for information purposes only. It is not intended to be legal advice. You should not act or abstain from acting based upon such information without first consulting a legal professional.