WESTCHESTER COUNTY, N.Y. -- The state of New York diverted hundreds of millions of dollars from education to a scandal-plagued horse racing operator, according to a story on Buzzfeed.com.
Seven years ago, the state legislature carved out a special agreement that so far has taken more than $200 million in lottery revenue and given it to the New York Racing Association (NYRA), a not-for-profit corporation that runs the Belmont Stakes horse races, the story said.
This is money that would otherwise go to New York’s schools, the story said.
The NYRA is also known for allegations of corruption. The deal was intended to help the racing organization regain solvency and repay a large state loan, but in the end the NYRA managed to keep the loan as a gift, the story said.
The Audit Director of the Office of the New York State Comptroller said that the state agency has completed an examination of possible misuse of NYRA’s capital expenditures. The results of its audit will be released in the coming weeks, the story said.
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