Misappropriation

An executive was terminated after a nonprofit organization discovered that $55,000 in grant money was misappropriated for his own use. The organization filed suit against the executive to recover the funds. The executive countersued the organization and several individual board members for breach of contract, defamation and copyright infringement. The organization’s indemnity costs were $22,500 and defense costs to-date have reached nearly $600,000.

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