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Sosa strikeout – Nagging probe

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Dogged by controversy, Chicago Cubs baseball star Sammy Sosa is closing his charitable foundation and giving its assets to a charity in the Dominican Republic, USA Today reported July 11.

“He won’t have anything to do with it,” Bill Chase, president of the three-year-old foundation, told the newspaper.

Trouble has nagged the Florida-based Sammy Sosa Charitable Foundation since Fortune magazine in April 2000 reported a former director had charged that it misused funds, USA Today said.

That triggered a five-month probe by Florida’s attorney general, who brought no charges but referred the case to the Internal Revenue Service.

Chase said the IRS is continuing its probe and helping with the transfer, but added he didn’t expect punitive action, USA Today said.

He acknowledged funds had been mixed between the charity and Sosa’s Florida business, Sosa Group Inc., but said he always reconciled accounts at the end of the year.

For full story, go to USA Today.

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