Air America is known for its cash flow problems. So if this story is right, they took a loan from a Boys and Girls club.
In early 2004, the directors of the nascent Air America network were scouring the nation for potential contributors to its start-up. One of the network's directors, Evan Montvel Cohen, appears to have partially solved the problem by arranging loans from the Gloria Wise Boys & Girls Club that eventually totaled at least $480,000, and possibly more.
Cohen was also on the board of Gloria Wise, so he arranged for the loan.
Only the rest of the B&G club didn't seem to know about it. So now the feds have become involved, and they've suspended the $10 million of grants that the B&G club normally gets, because of bad use of their finances.
Wierd... huh?
No comments:
Post a Comment