Minnesota Lawmakers Seek to Protect Nonprofits From Clawbacks

Minnesota lawmakers have passed legislation to protect nonprofits and religious groups from the so-called clawback lawsuits that are a crucial tool for recovering funds stolen from Ponzi-scheme victims.

That’s the idea behind the bill that now sits on the governor’s desk. If signed into law, the bill would limit the odds that these organizations could be sued under a current state law allowing the reversal of payments made in a fraudulent manner, according to the Star Tribune.

The original article (“Minnesota Lawmakers Seek to Protect Nonprofits From Clawbacks” by Jacqueline Palank) can be found in Wall Street Journal, Business ยป

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