Fidelity and Vanguard Suspend SPLC Grants Amid Federal Fraud Charges
Fidelity, Vanguard reportedly pause SPLC grants after federal fraud charges
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Fidelity Charitable and Vanguard Charitable have paused grants to the Southern Poverty Law Center (SPLC) following federal charges of wire fraud and money laundering against the nonprofit. The SPLC is accused of misusing donations to fund extremist groups, prompting these financial institutions to reassess their grant-making practices.
- 01Fidelity and Vanguard have halted grants to the SPLC amid serious legal allegations.
- 02The SPLC faces federal charges, including wire fraud and money laundering.
- 03The allegations involve the misuse of $3 million in donations linked to extremist groups.
- 04Both Fidelity and Vanguard cite ongoing investigations as the reason for the grant suspension.
- 05Supporters of the SPLC are mobilizing donations for its legal defense.
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Fidelity Charitable and Vanguard Charitable have reportedly paused their grants to the Southern Poverty Law Center (SPLC) following serious federal charges against the civil rights organization. The U.S. Justice Department has indicted the SPLC on allegations of wire fraud and money laundering, claiming that the organization misappropriated $3 million in donations to support violent extremist groups such as the Ku Klux Klan and Aryan Nations. In response to these charges, both Fidelity and Vanguard stated that they are temporarily halting their grant-making activities to the SPLC while the investigation proceeds. Fidelity Charitable emphasized that the organization does not meet their eligibility criteria during ongoing investigations, and Vanguard echoed this sentiment, noting that allegations against an organization can impact its tax-exempt status. The SPLC has not yet commented on the situation. Supporters are reportedly rallying to donate to the SPLC to assist with its legal defense.
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