The organizations at the head of U.S. gymnastics have agreed to a $380 million payout for the victims of longtime team doctor Larry Nassar – a convicted child molester who sexually abused several members of the U.S. Olympic Gymnastics team, as well as hundreds of other aspiring gymnasts. He is currently serving 40-175 years in prison for his crimes.
The Wall Street Journal reports that it is one of the largest-ever payouts for victims of a sexual abuse scandal.
At a bankruptcy hearing on Monday, the final holdout insurer – TIG Insurance Company – agreed to pay a substantial share of the settlement. The total figure also includes direct contributions of millions of dollars from the U.S. Olympic & Paralympic Committee and USA Gymnastics.