US Gym Offers $425 Million Settlement to 500 Victims of Pedophile Doctor Larry Nassar – But Doesn’t Have Enough Money in the Bank to Pay
- USA Gymnastics proposed the settlement in a court file Tuesday night
- The money would be distributed to 500 victims of Larry Nassar
- But the organization’s insurers have not yet agreed to pay it out
- US Olympic and Paralympic Committee asks insurers to consider
- The victims include Olympic medalists Simone Biles and Aly Raisman
- The amount is almost double the $215 million US Gymnastics offered last year
- Nassar is in prison and will spend the rest of his life there
- The offer came the day McKayla Maroney’s ELLE magazine interview was published, in which she said she thought Nassar was going to kill her.
USA Gymnastics has offered to pay victims of pedophile doctor Larry Nassar a $425 million joint settlement, but it’s unclear where the organization will find the money because some of its insurers are not signing the proposed settlement.
Nassar is in prison for assaulting hundreds of gymnasts, including Olympic champions Simone Biles, Aly Raisman and McKayla Maroney.
USA Gymnastics and Michigan State University have both been admonished by his victims for not acting when he was first reported for abuse, and in some cases covering up his abhorrent acts.
A lawsuit filed by a class of 500 of its victims has been resolved with a proposed settlement of $425 million – $1.1 million per victim, excluding any legal costs incurred.
The proposed agreement would prevent the victims from taking further legal action against USOPC, USA Gymnastics and Bela and Martha Karolyi, who ran the Karolyi ranch, a Texas training ground where much of the abuse took place.
But it’s unclear how the organization will get the money to pay the amount if insurers have not yet agreed to pay it.
USA Gymnastics has proposed a $425 million settlement to 500 of the victims of pedophile Larry Nassar. Nassar, pictured above in 2018, was sentenced to life behind bars for his blatant assault of hundreds of girls, including Olympic champions
Nassar’s victims include Olympians Simone Biles and Aly Raisman. Their lawyer said they welcomed the news of the proposed settlement, but it was not finalized yet
In an interview published Tuesday, Michaela Maroney said she thought Nassar was going to kill her
The U.S. Olympic and Paralympic Committee is now calling on insurers to agree.
Under the new plan, the USOPC will make a substantial contribution to the compensation of the next of kin.
“Unfortunately, there are some insurance companies that continue to refuse support for this plan, and we urge these companies – in the strongest terms – to work with the rest of the parties to work towards a fair resolution of the plan for victims and survivors of abuse.” to support,” the committee told USA today, who first reported on the settlement on Tuesday evening.
USA Gymnastics said in a statement it believes the settlement will be finalized later this year.
“After extensive discussions, this plan was jointly proposed by USA Gymnastics and the committee and is supported by many of the involved insurers.
“We expect this plan to be confirmed later this year and greatly appreciate the efforts of all parties to get to this point.”
The proposed settlement came the same day that Maroney’s interview about Nassar, in which she said she thought he would kill her in one of their sessions, was published by ELLE.
The proposed agreement would prevent the victims from taking further legal action against USOPC, USA Gymnastics and Bela and Martha Karolyi, who ran the Karolyi ranch, a Texas training ground where much of the abuse took place. Martha is pictured with Simone Biles
After harassing her, Maroney said he told her, “You know, to be a great athlete, sometimes we have to do things that other people wouldn’t.”
“Actually, he silenced me and said, ‘This is what it takes to be great.'”
Maroney said she would try to tighten her legs and beg Nassar to work on other parts of her body to avoid abuse when she had to meet him.
“We’d say, ‘No, don’t do that. We just want you to work on our backs, our shins, our feet,'” she recalled. “And we’d be annoyed. We’d be crazy. We all hated it.’
In January 2020, USA Gymnastics proposed a $215 million settlement, which was widely panned by the victims.
Michigan State University has already paid $500 million to 443 of Nassar’s victims at the school.