HNA's Foundation Tells N.Y. It's Not Raising Funds in N.Y.
- Nonprofit says it will register as charity that holds funds
- Schneiderman’s office had asked charity for more information
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HNA Group Co., the Chinese conglomerate that’s been snapping up stakes in banks and hotels, told New York’s top cop that it doesn’t need to register its Manhattan-based charity as a fundraising organization.
The nonprofit, called Hainan Chiang Charity Foundation Inc., will instead register with Schneiderman by the end of September as a nonprofit organization that merely holds funds in New York rather than solicits them. That registration may shed light on HNA’s structure by revealing information about the organization, including names of officers and affiliates.