Trustees of Mass. Foundation to Repay $1.2-Million

The president of the Copeland Family Foundation, in Milton, Mass., and two of its trustees have agreed to return $1.2-million to the organization after they were charged with wrongly using the philanthropy’s money to enrich themselves, reports The Boston Globe.

The payments come after Massachusetts officials spent two years investigating the matter and trying to negotiate a settlement to avoid a trial. State officials said the board members used the foundation’s money to set up their own pension plans.

After announcing that Copeland officials had agreed to make the payments and additional changes in the structure of the foundation, state officials also offered an update on Paul C. Cabot Jr., who was accused of self-dealing at the Paul and Virginia Cabot Charitable Trust.

Though Mr. Cabot promised state officials in 2004 that he would return more than $4-million to the foundation, the attorney general’s office has been able to collect just $900,000 because of claims by the Internal Revenue Service and Mr. Cabot’s children.