Gloria Wise Boys and Girls Clubs

Gloria Wise Boys and Girls Clubs

The Gloria Wise Boys and Girls Clubs was a non-profit organization serving the community of the Bronx, in New York City.

Controversy

In July 2005, the Bronx News reported Gloria Wise Boys and Girls Club of Co-op City loaned $480,000 to Progress Media, then owner of Air America Radio. The actual amount was later determined by the City of New York Department of Investigations to be $875,000. Findings Regarding Fraud and Financial Mismanagement at the Gloria Wise Boys and Girls Club. City of New York: Department of Investigations. September 2006. http://www.nyc.gov/html/doi/pdf/GW_Report.pdf ] The city has suspended further funding of the agency, and Boys and Girls Clubs of America has revoked the group's right to use their name, likeness or logo. At the time the funds were alleged to have been transferred, Evan Montvel Cohen, former chairman of the now-defunct Progress Media, was also Director of Development for Gloria Wise. This was apparently part of general misappropriation of funds by the board of directors, which saw several of them receiving money from the organization which was in turn used for personal expenditures.cite news |url=http://www.nytimes.com/2006/10/06/nyregion/06bust.html?n=Top/Reference/Times%20Topics/Subjects/B/Bonuses |title=City Finds Widespread Fraud at a Bronx Charity |first=Sewell |last=Chan |date=October 6 2006 |publisher="The New York Times"]

Response

In response to this report, Air America Radio's current owners, Piquant LLC, issued a press release stating that the alleged "mismanagement and corruption at Gloria Wise Boys and Girls Club" was "absolutely disgraceful." In addition, the press release stated that although Piquant had "no obligation to Progress Media's business activities", Piquant had "agreed months ago to fully compensate the Gloria Wise Boys & Girls Club as a result of this transaction". While Gloria Wise remains under investigation, Air America has since repaid the loan.

References


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