50-year-old NYC nonprofit comes under AG investigation because president bought $1.1m Hamptons beach house, ostensibly as retreat for choir, then using it for himself.
"A New York City nonprofit used a choir as part of a strategy to enrich its president, state Attorney General Eric Schneiderman's office said Tuesday. 'The breakdown in governance at the Perley Fund was shocking, bringing a longtime charity serving New York's underprivileged children to the brink of financial ruin,' Schneiderman said. The more than 50-year-old Victor E. Perley Fund's problems started after trustee Richard Basini took over as president in 2009, the AG said." -- Eli Rosenberg, the New York Daily News