Gates Foundation sues company over misuse of funds for pneumonia vaccine

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The Bill and Melinda Gates Foundation is suing the Canadian biotech company, PnuVax, for allegedly misusing a US$30-million grant intended to develop a low-cost pneumonia vaccine for children, according to a lawsuit filed in Washington District Court.

The global philanthropic foundation claims the Montreal-based company misused grant funds in several ways, including diverting $3 million to an account used to pay back rent owed on a facility owned by the National Research Council (NRC).

“The subcontractor used by PnuVax Inc., which is controlled by the same individuals as PnuVax Inc., charged a 40% mark-up on personnel costs and a 15% mark-up on materials — a fact not disclosed to the Foundation,” the lawsuit claims.

“Almost immediately after entering into the grant agreement and receiving US$3 million in grant funds, PnuVax Inc. diverted these funds to a trust account maintained by its attorney and used the funds to pay significant amounts of back rent owed to its landlord.”

The Gates Foundation also claims PnuVax failed to keep adequate financial records and made “unauthorized pre-grant expenditures” for materials and equipment that were invoiced prior to receiving the grant.

PnuVax, which is owned by Dr. Donald Gerson and his son Jonas, did not immediately respond to a request for comment by Global News.
Gates Foundation sues Canadian company over ‘misuse’ of $30M gra..
Talk about scum.

[Megalan]

You must be really stupid if you try to fool Bill Gates.

[Curls]

If only the US gov did this when companies misuse tax funds tbh

[UncaringNonchala]

Why would anyone even want to? Like, most famous people I like, I think, "I'd like to have a beer with that person."

Bill, though? "I wanna get a family-size bag of chips, plug in the ol' NES, and play some fuckin' old school shit."