Tiger Woods Charities Feel the Bite of Stanford Scheme

Charities founded by professional golfer Tiger Woods are learning they can be sued for innocently receiving contributions from a Ponzi schemer.

Tiger Woods Foundation Inc. and Tiger Woods Charity Event Corp. got $500,000 in charitable contributions from R. Allen Stanford’s Ponzi scheme. The Woods foundations failed to persuade a federal judge to dismiss a receiver’s suit seeking to recover the contributions as fraudulent transfers.