Watch CBS News

Swindled nuns replace stolen money with their own

Roman Catholic nuns who were the alleged victims of a fundraising swindle have loaned their own retirement money to a school renovation project in Worcester.

The Venerini Sisters went forward with the renovation of the private school after a fundraiser they had hired, Michael Hlady, assured them he had lined up a $3 million donation from an anonymous donor.

Prosecutors said no such donor existed and Hlady, of Smithfield, R.I., was later charged with fraud, identity theft and larceny. He has pleaded not guilty.

The Venerini Sisters used the their retirement savings to make an interest free loan to pay builders who had sued the school. Those suits have since been settled,

The nuns hope to raise money in the future that would eventually repay the loan.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.