According to the Federal Trade Commission, James T. Reynolds Sr. of Tennessee and his family used much of the $187 million it collected for cancer patients to buy themselves cars, gym memberships and take luxury cruise vacations.
The joint action by the FTC and states said Reynolds, his ex-wife and his son raised the money through their various charities: including The Breast Cancer Society in Mesa.
The Breast Cancer Society agreed to cease operations as part of the settlement agreement.
We talked about how and why this can happen with Daniel Borochoff, president and founder of Charity Watch.
