Houston foundation hit by Ponzi scheme
DALLAS -- A foundation that endows athletic scholarships at the University of Houston may have lost more than 40 percent of its listed assets because of investments in an alleged Ponzi scheme orchestrated by a financial adviser for college basketball coaches who committed suicide last summer.
The losses incurred by the Houston Athletics Foundation could have financial implications for the university, which has traditionally struggled to raise funds for its sports programs. The investments ...
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