He Donated $40M. Now His Ex Wants Some of It Back

Janet Foisie says hubby hid funds from her in Switzerland during divorce
By Arden Dier,  Newser Staff
Posted Mar 8, 2017 11:48 AM CST
He Donated $40M. Now His Ex Wants Some of It Back
The main entrance of Worcester Polytechnic Institute in Worcester, Mass.   (Wikimedia)

Robert Foisie has donated $63 million to Massachusetts' Worcester Polytechnic Institute over the years, making him the largest donor in its history, per the Worchester Business Journal. His ex-wife, however, says some of that money should instead be in her pockets. In a lawsuit, Janet Foisie explains she and Robert were married for 50 years before they opted to divorce in 2010. The couple agreed to split their assets and eventually did so; during the process, Robert stated he did not have "any offshore assets," the lawsuit says. But that wasn't in fact the case, alleges Janet, who claims Robert had $4.5 million hidden in a Swiss account and transferred the money to WPI as part of a $40 million donation in 2014, per the Telegram & Gazette.

"Like one laundering the proceeds of a criminal enterprise, Robert sought to dispose of the funds for a purpose of his personal preference and choosing, rather than give it to his legitimate creditor Janet," who "agreed to a smaller award of marital assets than she would have agreed to had she known the truth," per the lawsuit, which names WPI but not Robert. The suit asks that a temporary injunction be issued to keep WPI from using any funds given to it by Robert since 2011, and that a receiver be appointed to control the money. In a statement, WPI says, "We have no knowledge of any of the improper conduct alleged in the lawsuit" and "hope the Foisies are able to work out their differences." MassLive notes the Foisies divvied up their homes and each walked with $20 million worth of securities. (More Massachusetts stories.)

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