The Tri-Valley Community Foundation will close and file for liquidation bankruptcy by the end of June this year. The foundation was said to be in debt with more than $3M.
The foundationís board Chairman, Ron Hyde, is looking for enough evidence to file a lawsuit for criminal prosecution against foundationís former President David Rice. Although he does not have enough evidence to prove that Rice took the money for himself, he can state a scenario that could prove that kickbacks were involved.
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