Lawsuits claims Yahoo squandered trust fund for Chinese dissidents

A pledge Yahoo made 10 years ago to help imprisoned Chinese dissidents has resulted in millions of dollars wasted, according to a lawsuit filed on Tuesday.

The lawsuit comes from several Chinese dissidents who were supposed to benefit from a trust fund Yahoo established back in 2007. At the time, the internet company had faced a backlash for handing over emails to the Chinese government, with the cooperation leading to the jailing of a Chinese journalist and an engineer who called for democratic reform.

To address the controversy, Yahoo paid US$17.3 million to establish a trust fund devoted to helping imprisoned Chinese dissidents. However, since then, the fund has been embroiled in ongoing allegations that it mismanaged the money.

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Source: http://www.cio.com

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