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Fumo's daughter accuses him of raiding family trust fund

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By The Associated Press

Published: Friday, July 12, 2013, 9:33 p.m.

PHILADELPHIA — A once-powerful Pennsylvania lawmaker, Vincent Fumo is set to leave prison next month, but his legal woes still mount as his children accuse him of raiding a family trust fund.

Fumo, 70, netted more than $13 million from a family bank, and made millions more as a lawyer and state senator. He's finishing a five-year prison term for using the state senate and two charities as private piggy banks, to the tune of $4.2 million.

Fumo's assets have dwindled since the days when he jet set among his four homes, including a 33-room Philadelphia mansion with a basement shooting range.

His expenses in recent years have included $4 million for defense lawyers, $4 million restitution and $3 million in back taxes and fines. That explains why the dapper Mensa member, now in federal prison in Kentucky, sought a loan from a trust he created for two of his children.

Vincent E. Fumo, 44, and Allison Fumo, 23, agreed to loan their father $1.4 million from the $2.5 million trust. But in an October legal filing, she accused her father of switching the short-term loan to a low-interest note due in 2040, and she complained that he named his fiancee's brother-in-law, a turnpike maintenance worker, to be her trustee.

“I don't trust my father, unfortunately,” Allison Fumo testified this week in Philadelphia Orphan's Court.

Both Allison Fumo and her brother supported him at his five-month trial, although she was a college student and came to court less often. She has since graduated from the University of Pennsylvania's Wharton School of Business, and works in accounting.

“This is the type of thing that a daughter should never have to go through,” lawyer Bill Heymon argued Friday to Judge Joseph D. O'Keefe. In angry letters from prison, Fumo pledged “to completely waste the trust to his daughter's detriment if he doesn't have control,” Heymon said.

 

 
 


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