Frauds and 529 plans
Posted by admin on January 29, 2008 in Finance
There have been quite a few instances wherein people have tried to dupe the state government into giving money that has accrued through the 529 plans for purposes other than what it was meant for. Since the government has quite a few tracking operations in place, they are able to find out at some point or the other that the money from the 529 plans has been misused. When this happens, they make sure that the guilty person is punished and the money so used is taken back. Hence, there is no use in people trying any hanky-panky.
