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Toys For Tots Founder Pleads Guilty To Fraud

toysfortots_logo_sm.gif - 7401 BytesThe founder and former president of the Marine Toys for Tots Foundation pleaded guilty to stealing $1.8 million from the organization.

Jerry Lee King, 57, funneled money into a bank account in Hong Kong while serving as president of the organization from 1991 to 1993, U.S. Attorney Denise O'Donnell said.

King set up the foundation in Buffalo in 1991 to help distribute gifts to poor children at Christmas and promote the Marine Corps Reserve's Toys for Tots program, a separate program that handles the toy drive.

He was forced to resign when he was indicted on federal fraud charges in July 1998.

King, a Marine in the Vietnam War, pleaded guilty Tuesday to one count of wire fraud, a charge which carries a maximum sentence of five years in prison. He also admitted making false statements on a tax return, which carries up to three years in prison.

Sentencing was scheduled for June 27.

[Updated 3/23/2000]

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