Hopefully it's a HUGE fund, because we have no doubt that the lawsuits will be plentiful and costly to the university.
Penn State's Board of Trustees Chairman Steve Garban has announced that the board will be creating a fund to deal with all the civil lawsuits that are bound to come up as a result of the ongoing scandal.
Here's what a source had to say about it:
"[He's been] discussing with fellow trustees the need to establish a fund because it's absolutely inevitable that the university is going to be sued by the alleged victims. There will be absolutely no money taken from Penn State's donations from alumni, corporations, or any other source."
"Money that goes to the the sex abuse fund will be specifically designated, and this is being done is a very discreet manner. Penn State has very, very wealthy donors, and board members, and this is who will be contributing to it."
"[It's] a foregone conclusion that there will be litigation in this matter. It could go on for years."
And here's what the source had to say about how much money will be placed in the fund:
"It will be a significant amount. It's important to emphasize again, absolutely no money that is donated to Penn Sate from the public, will be diverted. No resources will be taken from the institution, period. There will be a very strict oversight of the fund, and every dollar will be accounted for."
Certainly no amount of money can make up for all the horror that these victims endured, but at least this is a SMALL step in the right direction for the university.
Tags: board of trustees, civil lawsuits, fund, horror, jerry sandusky, litigation, penn state, scandal, steve garban, victims