Word: escrowed
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THEFT OF FUNDS. The Justice Department last week launched a nationwide inquiry into a pattern of abuse by escrow agents who pocketed money they received from the sale of foreclosed homes over a four-year period. Among the targets is a Maryland woman, nicknamed "Robin Hud," who brags that she stole $5.5 million in HUD money and gave it to the poor...
...second semester the council struggled to reestablish its ties to the Endowment for Divestiture (E4D), an alternative gift fund which holds seniors' donations in escrow until Harvard divests from South Africa. But interest in the fund was minimal, and work began so late in the year that E4D essentially disappeared from campus for the year...
...council, responding to anti-apartheid activists, initially created E4D in 1983 to allow students to express their displeasure with the University's policy of holding investments in South Africa. Money donated to E4D is kept in an escrow account until Harvard divests of stock in companies that do business in South Africa...
...endowment, which now holds about $25,000, keeps seniors' gifts in escrow until the University sells its South Africa-related investments. If Harvard has not divested by 2003, E4D will donate its funds to local charities, such as Phillips Brooks House...
...March, Delvalle, working through private U.S. lawyers, managed to tie up $70 million in Panamanian funds in U.S. banks, paralyzing the local banking system. The U.S. then imposed limited economic sanctions, including the payment of Panama Canal fees into an escrow account inaccessible to Noriega and cancellation of trade preferences. This still did not faze Noriega, although it led to severe damage to Panama's economy. Noriega portrayed himself as a victim of yanqui imperialism, and 22 other Latin American nations, including Mexico and Venezuela, issued a statement of support...