On Aug. 21, Nevada Attorney General Adam Paul Laxalt announced Renown Health Foundation would receive $650,000 in restitution from a deceptive trade practice settlement with Deutsche Bank. The funds will be dedicated to the Stacie Mathewson Behavioral Health & Addiction Institute at Renown.
Restitution monies given to the Nevada Attorney General’s office will be used for the new Stacie Mathewson Behavioral Health & Addiction Institute, which will provide much-needed services, decrease stigma and encourage more people to seek help in northern Nevada.
Nevada Attorney General Adam Paul Laxalt and Renown Health Foundation announced the recovery of $650,327 in restitution to be used for Renown’s new institute. The restitution became available to Renown after the Attorney General’s Office entered into a $220 million multistate, deceptive trade practices settlement with Deutsche Bank.
Laxalt said that big banks that defraud the state’s not-for-profit groups and government entities will continue to be investigated. Renown was one of the not-for-profits adversely impacted by the Deutsche Bank LIBOR interest rate manipulation.
“We have taken an all-of-the-above approach to the opioid crisis, and we are heartened that Renown Health chose to use these funds to make a lasting investment in mental health and addiction recovery services,” Laxalt said.
The Stacie Mathewson Behavioral Health & Addiction Institute was recently established thanks to a $6 million donation from Charles N. and Stacie L. Mathewson. The Institute will expand community access to prevention and intervention services for mental health disorders and alcohol and drug addiction.
Struggles with mental health and addiction are widespread in Nevada. For the second straight year, Nevada ranked 51st in the nation according to Mental Health America’s 2018 State of Mental Health Report. Overall, Nevada has the highest frequency of mental illness and substance use, combined with limited access to treatment and a shortage of care providers.
“We appreciate the ability to obtain restitution through this settlement,” said Dr. Anthony Slonim, president and CEO of Renown Health. “This funding furthers the work and care provided by donors like Chuck and Stacie Mathewson. These funds will help improve the lives of others struggling with mental health and addiction and help improve the health of our community.”
Both Dr. Slonim and Stacie Mathewson serve on Laxalt’s Statewide Partnership on the Opioid Crisis.