Financial Crime: Florida charity king charged with raising millions for firefighters, veterans and cancer survivors but keeping the cash for himself

by | Nov 8, 2022 | Stock Market

The callers claimed that they were raising money for charities to help firefighters, wounded veterans and even breast cancer survivors. But prosecutors say that behind it all was a dizzying array of tax-exempt shell companies, management vehicles, Super Pacs and vendors that obscured the fact that almost all of the millions of dollars raised went into the pockets of one man: Douglas Sailors.

The 71-year-old charity operator is accused of appointing nominees with little experience to run the various umbrella groups set up to manage the network of charities he had created. But federal prosecutors and the IRS say Sailors called all the shots from behind the scenes, despite being listed as only a management consultant. As a result, they say that for nearly a decade as much as 98% of the donations taken in went to Sailors or was used to pay accountants and lawyers to make sure all the tax filings and legal paperwork appeared legit. “Sailors formed and operated charities for his personal benefit,” the IRS said in a statement. “To confuse donors, he chose names that sounded similar to legitimate charities — such as Breast Cancer Research and Support Fund; Disabled Veterans Services; United States Firefighters Association, among others.” Each …

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