Zack and Nancy New Net Worth 2022 Amid Wire Fraud Charges
Zack and Nancy New’s net worth picked interest in public amid pleading guilty to the Mississippi scandal.
A nonprofit group and a private school founder Nancy New pleaded guilty, along with her son Zack in the Mississippi case. At present days, they have both agreed to testify in the most extensive public corruption scandal.
It all dates back to early 2020 when they got charged, along with four other people in state court. As stated by the prosecutor, they had misused the welfare money on drug rehabilitation for former pro wrestler Brett DiBiase in California Malibu.
She was in charge of the Mississippi Community Education Center, a nonprofit that has gained millions of dollars for helping the needy.
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Zack and Nancy New From Mississippi Net Worth 2022
Zack and Nancy New’s net worth is assumed to be in the millions as of 2022. They ran the nonprofit that has gained millions of funds for the poor and needy people from Temporary Assitance.
Nancy New is the mother and founder of the company; meanwhile, her son, Zack, is the vice-president. As reported by the Tuscaloosanews in 2020, over $4 million were lost/stolen from the welfare funds.
Following the report, their nonprofit Mississippi Community Education Center gained over $44 million in the period mid-2014 to mid-2018 in government grants. Meanwhile, Zach and Nancy faced an allegation of taking out $2.15 million from the center account at the time.
The Nonprofit company had total revenue of more than $26 million, a total functional expense of over $19 million, and a net income of around $7 million in 2018.
Moreover, they were living lavish lives with the company’s fund and have recently admitted to spending welfare grant money on luxurious gifts.
BREAKING: Nancy and Zach New plead guilty to bribery, fraud charges in state welfare case.
They have agreed to cooperate with prosecutors and testify against co-defendants. Ongoing investigations could result in charges against additional people.https://t.co/uDtIeUqpX3
— Mississippi Today (@MSTODAYnews) April 22, 2022
Wire Fraud Charges On Zack And Nancy New
69-years-old Nancy New, a founder of the Nonprofit, has been guilty of fraud charges with two counts of fraud against the government, four counts of bribing a public official, six counts of wire fraud and racketeering, and one count of money laundering.
Meanwhile, her 39-years-old son, Zack, vice-president of the Nonprofit, has pleaded guilty to similar fraud charges and the conspiracy to commit wire fraud.
Following the charges against him, there would be a maximum of 48 years sentencing, with 17 to serve and five years for conspiracy to commit wire fraud.
Moreover, Nancy’s charges carry the sentence of 99 years, with 25 to serve and an additional 10 for money laundering.
Nancy New could face up to 100 years in prison on the welfare fraud scandal. Hinds county prosecutors want sentencing for New and her son delayed until after the duo has been sentenced in November on unrelated federal charges. pic.twitter.com/OzqDWaLxVx
— Ross Adams (@radamsWAPT) April 26, 2022
Who Is Nancy New Husband? Meet Her Family Amidst Brett Favre Case
Nancy New shares a son Zack with her partner. Her child helped to run the Center; however, she didn’t open up about her husband to the public yet.
Coming to her family, she seems to have kept the matter private with the ongoing Mississippi scandal. Moreover, she has dragged Brett Favre into the case by claiming she paid around $1.1 million to him for the events, radio and promotional events, keynote speaking, and more.
However, Favre denied the allegations but has repaid the amount.
