Tevlin: Minn. law helps charities limit their exposure to clawbacks

  • Article by: JON TEVLIN , Star Tribune
  • Updated: December 18, 2012 - 8:34 PM
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william16Dec. 19, 12 5:59 PM

Unmentioned here is the fact that Doug Kelley, the attorney who has led the clawback effort against non-profits, is earning a reported $475/hour for his work, and that as of August, the attorneys and other professionals seeking to recoup Petters' ill-gotten gains have themselves pocketed $70 million in collection fees. Kelley, a former federal prosecutor, was named to his role as bankruptcy trustee and court receiver by a federal bankruptcy judge. As the old saying goes, it's not what you know but who you know that matters most.

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FrankLDec. 20, 1210:36 AM

Good point William. What Kelley also glosses over is the fact that none of the charities had any reason to suspect that the money donated was from ill gotten gains. When Petter made these donations he was being lauded as a brilliant businessman, not a thief. Lets also remember that most of the investors that Kelley is repaying are well-to-do people with extra cash, not widows and their rent money.

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