A Rockport businessman has agreed to pay $4.6 million to the Camden charity that accused him of embezzling funds while serving as its leader.
The Maine Public Broadcasting Network reported that in reaching the settlement with United Mid-Coast Charities, Russell “Rusty” Brace admitted to committing fraud, breaching his duty and converting the charity’s money.
The charity’s civil lawsuit against Brace is being dropped as a result of the settlement, but a federal investigation is still under way, with charges expected to be made soon.
Source: Maine Public Broadcasting Network
Read more
ADVERTISEMENT
Rockport businessman accused of stealing $3.8M
Rockport businessman ‘target’ of federal probe
Charity theft case takes toll on Camden business
