Dive Summary:
- Scott K. Ginsburg, the chairman and CEO of DG FastChannel and the owner of Boardwalk Auto Group, is suing Georgetown University over "at least $7.5 million" in donations.
- When Ginsburg first donated $5 million to the Georgetown University Law Center in 2000, the money was supposed fund the construction of the Scott K. Ginsburg Health and Fitness Center.
- After Ginsburg was found liable for insider trading in 2002, Georgetown left the fitness center unnamed and supposedly even removed Ginsburg's name from their website; however, the university purportedly continued to solicit donations from Ginsburg and trumpeted his initial pledge when fundraising.
From the article:
"... But three years later, and Ginsburg felt he had no options left other than to sue the university.
'It is now apparent that since 2002, Georgetown not only was not in fact committed to recognizing Ginsburg’s generosity by naming the sports center for him, but each of the foregoing oral and written representations to him about its claimed commitment was false, made only to entice him to give Georgetown more money,' says the lawsuit, which was filed by attorney John 'Trey' Cox III of Lynn, Tillotson & Pinker. 'In reliance on Georgetown’s false representations and manipulation, Ginsburg donated a total of at least $7.5 million to Georgetown, including his completed original $5,000,000 pledge in the Agreement.' ..."
