Las Vegas Luxury Home At Center of Indiana Controversy
A Las Vegas luxury home is not usually the first thing a non-profit foundation opts to purchase with its scarce resources. But apparently the Olin B. and Desta Schwab Foundation thought that a Las Vegas luxury home was exactly what it needed.
Reports are surfacing in Fort Wayne, IN, that a subsidiary of the Schwab Foundation purchased a Las Vegas luxury home in a gated community at about the same time that the Schwabb Foundation added $1.5 million to its list of assets.
Foundation Board President Richard H. Blaich has been photographed poolside at the Las Vegas luxury home in question, and claimed in an article that it was his second home. He denies any wrongdoing.
The Indiana Attorney General’s office is investigating the purchase.