NEW YORK (AP) — A New York official says the former president of the National Arts Club has agreed to pay $950,000 to settle claims he mismanaged the institution and used its resources to finance a luxurious lifestyle.
State Attorney General Eric Schneiderman sued O. Aldon James in September, saying James, his brother and an associate used more than a dozen apartments and other space at the club's Manhattan headquarters rent-free. He also said James spent tens of thousands of dollars from club funds on purchases at antique shops, flea markets and vintage clothing stores.
Schneiderman says the club will get $900,000, with the balance going to cover the state's costs.
A call to James' lawyer wasn't initially returned Wednesday.
The club was founded in 1898 to promote public interest in the arts.