FOUNDATION LEADER SUED
January 3, 2006
The Nevada attorney general has sued Richard Blaich, the president of the Olin B. and Desta Schwab Foundation, alleging that he used the organization’s money to buy a $1.5-million house in Las Vegas, reports the Associated Press. Mr. Blaich moved the foundation from Fort Wayne, Ind., a few weeks after a newspaper there reported the purchase of the Las Vegas home. The Indiana attorney general has moved to freeze the foundation’s $7-million in assets. Mr. Blaich, meanwhile, says he bought the home as a legitimate real-estate investment on behalf of the foundation.
