Sandusky Victims Will Receive $60 Million From Penn State

This perv is back in the news and this time its to financially compensate the 26 victims he sexually abused………

Penn State announced Monday that it had settled a civil suit involving 26 victims from the Jerry Sandusky sex abuse scandal and will pay out nearly $ 60 million.

“The terms of the settlements, which include a release of all claims against Penn State and other parties, are subject to confidentiality agreements. Of the 26 settlements, 23 are fully signed and three are agreed in principle, with final documentation expected within the next few weeks,” the university said in a statement.

“The entire sum dollar amount paid by the University for the 26 settled claims is $ 59.7 million and will be reflected in the University’s audited financial statements for the year finished June 30, 2013.”

According to the university, it believes that its various liability insurance policies cover its settlements and defense of claims and those expenses not covered by insurance will be funded from interest revenues from the university to its own self-supporting units.

In other terms, tuition, taxpayer funds or donations will not be put towards the agreement’s costs.