AG Schneiderman: NYC Puerto Rican Day Parade Fundraiser Misused $1M In Funds
NEW YORK (CBSNewYork/AP) — New York State Attorney General Eric Schneiderman announced a settlement Thursday with a fundraiser who bilked the New York City Puerto Rican Day Parade of $1 million amid lax oversight from organizers.
According to the attorney general, Carlos Velasquez underreported how much he collected from sponsors.
Schneiderman said Velasquez used money that was supposed to go to scholarships on parade floats instead. Velasquez also used donated airline vouchers for personal trips, the attorney general said.
The settlement will cost Velasquez more than $1 million and bars him from working with the parade moving forward.
The settlement also included the resignations of half the parade board’s members, including its president.
Ousted board President Madelyn Lugo was meeting Thursday with state Sen. Ruben Diaz and other clergy officials to discuss the case.
Check Out These Other Stories From CBSNewYork.com:
- Pedestrian Killed In Port Authority Bus Terminal Accident
- Woman Says Rash Of Potholes Poses Threat To Pedestrians In South Orange
- 19 Injured In Apparent Gas Explosion, Collapse At East Village Buildings
- New Jersey Man In Legal Trouble For $800,000 NCAA Pool
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)