Calif. Attorney General Issues Critical Report on Getty Trust
October 2, 2006 | Read Time: 1 minute
California’s attorney general, Bill Lockyer, on Monday issued a report criticizing the J. Paul Getty Trust’s former chief executive and its trustees.
The report said the organization’s former chief executive, Barry Munitz, who resigned under pressure in February, had spent too much money on lavish travel and meals and that he had abused the charity’s tax-exempt status by asking the organization’s employees to run personal errands for him.
In addition, the report chided the Getty Trust for spending more than $21,500 to buy gifts of artworks for trustees.
But the report said that charges that Mr. Munitz was paid too much and had engaged in a sweetheart real-estate deal to benefit a local housing developer were without grounds.
The attorney general’s office began the investigation last year after a series of articles in the Los Angeles Times raised questions about operations at the Getty Trust.
The attorney general said that Mr. Munitz’s decision to reimburse the Getty Trust $250,000 in cash and to give up more than $2-million in benefits by leaving his job had made it unnecessary for state officials to assess penalties.
He also noted that the trustees had taken steps to change its policies. However, he said that for the first time in the state’s history of enforcing charitable-trust law, he would appoint an independent monitor to make sure that the Getty Trust continues to fulfill its promises to follow state regulations.