December 6th, 2010
Legion of Tech reaches resolution on embezzlement
As you may remember, a little over a year ago, Legion of Tech—a grassroots organization established to help fund and manage Portland are tech events—fell victim to embezzlement. Details at the time were obviously nebulous, due to advice from counsel. And every time talk of Legion of Tech came up, someone would rightfully mention “What ever happened with that situation?”
Long story short, the amount—roughly $29,000—will be repaid in full. With interest.
We have reached a restitution agreement with the individual and he has agreed to a plan to pay back the funds that he has taken, with interest, along with attorney’s fees and costs incurred in the matter. Our agreement with this individual gives us recourse should he default on his repayment and is designed to be nondischargeable in bankruptcy.
For more information, please read the Legion of Tech post, Announcing a Resolution to Last Year’s Embezzlement.