Couple Charged with Looting 140-Year-Old Ky. Foundation

The longtime chairman of Louisville’s Woodcock Foundation and his wife have been charged with embezzling $1.4-million from the organization, wiping out assets that had been used for decades to award scholarships to needy students, writes The Courier-Journal.

Indictments unsealed Thursday allege that Charles and Diana Muir drained the 140-year-old foundation’s accounts, making payments disguised as loans to a business account controlled by Ms. Muir and spending some of the money on gambling. The foundation, which once had about $1.5-million in its coffers, now has $8, and last year’s scholarship recipients were not paid.

The Muirs pleaded not guilty. Their trial is scheduled for February 12.