Yale Donor Charged With Fraud

May 26, 2010

John D. Mazzuto has been charged with stock fraud -- including his handling of stock in his company that he then donated to Yale University for its baseball team, The New York Times reported. According to authorities, the stock fraud included giving away stock in ways that inflated the value of the stock. Officials said that Yale, while benefiting from the alleged scheme, was not part of it or aware of what was going on. A Yale spokesman told the Times that the university was "holding the donation aside" at this time. Yale sold the stock in question for $1.5 million.

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