Word: bennette
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...original $4-million gift, financed by the sale of his antique automobile collection in 1991, was placed in an HMC-managed charitable remainder unitrust, which pays a donor a fixed percentage of the trust each year for the rest of the donor’s life. Bennett was slated to receive five percent of the trust annually, with the entire trust going to Harvard upon his death...
...Bennett, 65, said he consistently received less than five percent each year, and the trust grew to just $5.1 million by 1999. When Bennett raised questions at that time, the HMC resigned as the manager of his trust. Morgan Stanley took over the management of the trust, though Harvard remains the beneficiary...
...Bennett, who said he donated the money to alleviate the tuition debt of Medical School students, said he has considered suing to remove Harvard as the recipient of the trust on charges of “fraud and misrepresentation,” although the bar for such claims is very high...
Corey D. Welford, a spokesperson at the Massachusetts Attorney General’s office, confirmed Anderson and Bennett have contacted the charities division there...
Following Sept. 11, 2001, Bennett gained moderate fame as the former personal doctor for the bin Laden family...