Billionaire university benefactor, Robert Foisie, allgedly ‘hired a hit man to kill his eldest son, Michael, after he was kicked out of the family’s investment company’
Robert Foisie, 82, allegedly placed a hit on his eldest son, Michael
Foisie, 82, was angry he’d been removed from a managing position with a family company
Robert has given Worcester Polytechnic Institute $63milion in his lifetime, $40million in 2014 alone
Ex-wife Janet Foisie filed a lawsuit against his alma mater claiming $4.5million of that was hidden from her during their divorce
Foisie is also being investigated by the FBI and the IRS for wire fraud
In the aftermath, Worcester Polytechnic Institute’s donor program, has been caught in the middle it was a singular messy family feud when it emerged last month that a post-divorce lawsuit featuring the school’s top benefactor contained claims by his ex-wife that his charitable gifts included money he illegally hid from her.
Court filings highlighted disquieting angles to an already bizarre tale of a dysfunctional wealthy family engaged in a venomous fight in which the family patriarch and WPI donor Robert Foisie, is accused by family members of having tried to hire a hit man to kill one of his adult children.
Billionaire philanthropist, Robert Foisie [photo], is accuse of having paid a Boston man a $20,000 ‘down payment’ to kill, or find someone to kill his son
Octogenarian Robert Foisie, allegedly paid a Boston man a $20,000 ‘down payment’ to kill, or find someone to kill his son Michael, after the children chose to remove Robert from the managing position of a family investment company.
His son and daughter have filed a suit that has reached Nevada’s highest court, and details have emerged about a number of other suits against the billionaire benefactor for Worcester Polytechnic University.
The Boston Globe reports that Robert Foisie faces multiple lawsuits in Massachusetts, Connecticut, and Nevada. As his son Michael claimed he ‘feared for his own life’ since learning of his father’s alleged actions.
According to court documents, Robert Foisie is accused of ‘buying a hit’ on his son Michael from a Boston man named James Balzotti. The chosen hitman then confided in his business partner Robert Casale about the proposition, who then reportedly convinced him not to go through with the murder
The court document alleges that Robert Foisie gave Balzotti ‘written instructions’ [above], to the as to Michael’s whereabouts
Robert Foisie is also reportedly being investigated by the FBI for wire fraud, and is negotiating with the IRS over claims of tax evasion. It has been reported that he stashed millions overseas to prevent his ex-wife from getting too much money in their divorce settlement.
In 2014 alone, the noted philanthropist donated a record $40million to the university, where he graduated in 1956. Over his lifetime, he’s contributed a combined $63million to the school.
The university is now constructing a $49 million building with his donation: The Foisie Innovation Studio. Their business school is also named after him and there is a scholarship fund in his honor.
Record donor: In 2014 alone, Robert Foisie who graduated from WPI in 1956, donated a record $40million to Worcester Polytechnic Institute. The generosity brought his lifetime total to $63million in contributions to the school
His ex-wife Janet Foisie said in a federal lawsuit filed in March against Worcester Polytechnic Institute that her ex-husband concealed $4.5million from her during divorce proceedings in 2011 and then gave that money to WPI.
Her ex-husband is not named as a defendant in the lawsuit. However, Ms Foisie believes her husband hid the $4million she is seeking in a ‘Valduz Trust’ at a Swiss bank during the time of their split, the Telegram reports.
As a condition of the divorce in 2010, both parties were required to divulge all of their assets. They had reportedly been married since 1960.
According to a copy of their settlement, both were set to receive $20million from securities and divided ownership of their homes.
Janet Foisie [left], and Robert A. Foisie who married in 1960, divorced in 2010. They are locked in a nasty struggle over the 2011 divorce decree, based on later final disclosures
On Friday, WPI president Laurie Leshin addressed the legal suits, saying: ‘Upcoming news reports may focus on personal disputes involving the Foisie family. We don’t know whether any of the allegations are true or false, but I want to assure you that we are taking the situation seriously.’
‘While other universities and nonprofits have faced issues related to donors or major gifts, this is new territory for WPI,’ she continued.
‘We are following this closely and will take action, if necessary, to ensure that we are aligned with best practices.’
She added that the Foisie Innovation Studio will continue its construction.
Connecticut resident Robert Foisie a mechanical engineering by trade, made millions from entrepreneurship.
WPI said the Foisie Innovation Studio will continue its constructions in the school
He reportedly owns a Swiss company that manufactures packing machines and a Connecticut based company that makes paper processing machinery.
Ms Foisie currently lives in Long Boat Key, Florida, which is located on a barrier island off the coast near Sarasota.
Worcester Polytechnic Institute, found itself in a rather embarrassing position when it emerged last month that a post-divorce lawsuit featuring the school’ major benefactor contained claims by his ex-wife that his donations included money he illegally hid from her, in the course of the divorce financial disclosures.
“Robert’s lies and omitted disclosures caused Janet to come to an incorrect conclusion about the amount of assets at issue in a dissolution of the Foisie’s marriage,” Ms. Foisie’s complaint says. “Specifically, she relied on Robert’s false statements and incomplete disclosures to her detriment in that (i) she agreed to a smaller award of marital assets.
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