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Tuesday
Oct292013

Penn State to Pay Nearly $60 Million to 26 Sandusky Victims

Patrick Smith/Getty Images(STATE COLLEGE, Pa.) -- Twenty-six victims of former Penn State assistant football coach Jerry Sandusky will receive settlements totaling nearly $60 million from his one-time employer.

University President Rodney Erickson called the agreements "another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State."

It was announced Monday that 23 victims signed settlements and three others agreed in principle.  The settlements include confidentiality agreements.

The Board of Trustees said none of the settlements will be funded by student tuition, taxpayer funds or donations.  Independent of this settlement, Penn State has spent more than $50 million related to the scandal that also led to the firing of former head coach Joe Paterno in November 2011.  Paterno died two months later of lung cancer.

Sandusky, 69, is serving 30-to-60 years after his conviction on 45 counts of abusing 10 boys over a 15-year period.

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