Manhattan District Attorney Cyrus Vance Jr. announced indictments against a Christian University that is tied to the former parent company of Newsweek on Thursday.
The indictments are the latest to be handed down in the ongoing investigation against the university, Christian Media Corporation and Newsweek’s former parent company, Ibt Media.
Olivet University, as well as several of its top officials, were accused of “obtaining at least $25 million in financing under Olivet’s name, and laundering the money in order to obscure its origins and fund Olivet’s operations.”
Olivet has vehemently denied the accusations, a spokesperson for the University told TheWrap (see statement below).
Also Read: Newsweek Turmoil Continues as News Director Cristina Silva Exits
The indictments come about a month after the same office charged Newsweek’s former parent company, Ibt Media, and several of its top officials with fraud, accusing them of inventing financial statements in order to secure millions in loans.
The indictments are the latest to be handed down in the ongoing investigation against the university, Christian Media Corporation and Newsweek’s former parent company, Ibt Media.
Olivet University, as well as several of its top officials, were accused of “obtaining at least $25 million in financing under Olivet’s name, and laundering the money in order to obscure its origins and fund Olivet’s operations.”
Olivet has vehemently denied the accusations, a spokesperson for the University told TheWrap (see statement below).
Also Read: Newsweek Turmoil Continues as News Director Cristina Silva Exits
The indictments come about a month after the same office charged Newsweek’s former parent company, Ibt Media, and several of its top officials with fraud, accusing them of inventing financial statements in order to secure millions in loans.
- 11/15/2018
- by Jon Levine
- The Wrap
Newsweek news director Cristina Silva will leave the company, editor-in-chief Nancy Cooper announced to staff in an internal memo on Thursday.
“I want to let you know that Cristina Silva will be leaving us. She came to Ibt four years ago as Breaking News Editor and has contributed enormously to the company every day since, becoming Managing Editor of Ibt before moving to Newsweek as News Director,” said Cooper.
“She is persistent in her commitment to good journalism, and her ambitions for Ibt/Newsweek have never flagged. And speaking personally, I’m grateful for her support and friendship.”
Also Read: Newsweek Retracts Story on Al Franken Twitter Bot Conspiracy Theory
Silva was one of the top editors at the site and her name is still prominently featured on the masthead. She is also a notable survivor from some of the most perilous days at the company, which saw staff shakeups,...
“I want to let you know that Cristina Silva will be leaving us. She came to Ibt four years ago as Breaking News Editor and has contributed enormously to the company every day since, becoming Managing Editor of Ibt before moving to Newsweek as News Director,” said Cooper.
“She is persistent in her commitment to good journalism, and her ambitions for Ibt/Newsweek have never flagged. And speaking personally, I’m grateful for her support and friendship.”
Also Read: Newsweek Retracts Story on Al Franken Twitter Bot Conspiracy Theory
Silva was one of the top editors at the site and her name is still prominently featured on the masthead. She is also a notable survivor from some of the most perilous days at the company, which saw staff shakeups,...
- 6/21/2018
- by Jon Levine
- The Wrap
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