Attorney General Ellison Hails Court’s Decision to Remove Otto Bremer Trustee as Victory
Ramsey County District Court orders removal of Otto Bremer Trustee Brian Lipschultz, terminates self-dealing investment fee, and sets process to appoint successor
April 29, 2022 (SAINT PAUL) — Minnesota Attorney General Keith Ellison today hails the Ramsey County District Court’s decision to remove Otto Bremer Trust trustee Brian Lipschultz today as a victory for the charitable beneficiaries of the Otto Bremer Trust.
Ramsey County District Court Judge Robert Awsumb late today ordered Otto Bremer Trustee Brian Lipschultz’s removal in an order that marked the end of an evidentiary hearing into Attorney General Ellison’s petition to remove the trustee. This petition came after a months-long investigation conducted by the Minnesota Attorney General.
Judge Awsumb also ordered the trustees to terminate a self-dealing investment advisory fee that two of the trustees charged the trust, and set forth a process for the parties to confer on the next steps for the appointment of a successor.
“When I took on the Otto Bremer Trust trustees, I was inspired by my hero and friend, Walter Mondale. In the early 1960s, he released the results of an investigation into Sister Elizabeth Kenny Foundation, a prominent Minnesota charity. When I took on the Otto Bremer Trustees, I knew it would not be easy. But like Mr. Mondale, I took this action because it was the right thing to do,” said Attorney General Ellison. “I am heartened that the Court saw that removing Trustee Lipschultz was the right thing to do for the Trust and its beneficiaries. This is a victory for the integrity of Minnesota’s charitable sector and the people of Minnesota.”
Attorney General Ellison’s Office continues to evaluate additional implications of the Court’s order, including the Court’s decision not to remove the other two Trustees.