Chicago Nonprofit CEO Pleads Guilty For Embezzling $800k From Organization

The former head of a Chicago nonprofit, Stuart Nitzkin, has pled guilty to misappropriating more than $800,000 from the organization. Nitzkin reportedly spent the money on lavish vacations and tickets to Chicago Bulls games. He has been charged with one count of wire fraud.

The plea agreement reads as follows:

“The expenses Nitzkin submitted for reimbursement included luxury vacations for Nitzkin and his family to Las Vegas, Ireland, Puerto Rico, Florida, and elsewhere, personal golfing expenses, thousands of dollars for tickets for NBA games featuring the Chicago Bulls and other professional sports games, personal medical expenses, real estate taxes for his family residence, health club dues, camp expenses for Nitzkin’s children, household goods, meals, car maintenance, and other personal expenses.”

Court documents name his former workplace as "Organization A". However, public records show he was the head of American Friends of the Israel Sport Center for the Disabled, a nonprofit that supports disabled children. From their website:

"The Israel Sport Center for the Disabled is one of the world pioneers in the field of sport rehabilitation. Founded in 1960, the ISCD is a home away from home to around 2,500 Israelis of all ages, where the unique merits of sports are utilized to strengthen body, spirit and mind. Sports activities contribute more to the confidence, morale, and self-image of those with disabilities than any other form of rehabilitation. Today, ISCD athletes participate in 18 different sports activities without discrimination on the basis of gender, religion, race, nationality or ethnicity."

Judge Sara L. Ellis has scheduled Stuart Nitkin’s to be sentenced later this summer. His charges are expected to put him in prison for about three years.

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