A bankruptcy trustee sued the former parent company and executives of Illinois retirement community Evangelical Retirement Homes of Greater Chicago Inc., alleging a pattern of misconduct and misappropriation of funds.
The trustee filed the suit on April 11 against Friendship Senior Options, its former CEO, former controller, and several board members to recover at least $16 million. The CEO and controller served in the same roles for Evangelical Retirement.
FSO kept for itself as much as $7.7 million worth of employee retention tax credits that belonged to the continuing care retirement community, the trustee alleged in the suit, filed in ...
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