Charity’s Founder Investigated by U.S. Attorney

The U.S. attorney’s office in St. Louis is investigating Michael B. Katz, founder of the Judy Ride Foundation, a breast-cancer charity, on allegations that he stole money from the organization, reports the St. Louis Post-Dispatch.

Mr. Katz has been the subject of inquiry by the charity’s board.

The board’s chairman, Edward Throop, and its vice chairman, David Drier, allege that Mr. Katz used the charity’s money for personal expenses, that he kept items donated for charity auctions, and that proceeds from a sale of thousands of pink breast-cancer bracelets had not been deposited in the charity’s bank accounts.

Ann Dolan, a former trustee, said she was with Mr. Katz at his home in 2004 when he counted more than $100,000 in cash earnings from bracelet sales. However, Mr. Throop says that the charity’s records show only $35,000 was deposited in its bank account.

The U.S. Attorney’s office did not say it was investigating Mr. Katz and the charity. A spokeswoman said, “We don’t confirm or deny the existence of any investigation.”

However, Mr. Katz said his lawyers have contacted the U.S. Attorney’s office to offer his cooperation with the probe. In an article published by the Post-Dispatch in March, Mr. Katz denied any wrongdoing.