buffalo akg director museum loan buy home state report

Janne Sirén, director of the Buffalo AKG Art Museum (formerly the Albright-Knox Art Gallery), received a $335,000 museum loan at a 0.18% interest rate in 2013 to help finance a $710,000 home. A review by the Erie County Comptroller's Office found that Sirén has not repaid any principal or interest, and the loan was later converted into a 30-year mortgage without being recorded with the county. The loan appears to violate New York's Not-For-Profit Corporation Law, which prohibits loans to directors or key officers, though the law was enacted a year after the initial bridge loan was issued.