RENO, Nev. — Renown Health Foundation and Nevada Attorney General Adam Laxalt announced $650,000 in funding for Reno’s new Stacie Mathewson Behavioral Health and Addiction Institute on Aug. 21.
The money comes from a $220 million multistate deceptive trade practices settlement with Deutsche Bank, which fraudulently manipulated the London Interbank Offered Rate (LIBOR).
Laxalt was one of 44 attorney generals involved in the settlement.
“Big banks that engage in manipulative conduct defrauding Nevada’s not-for-profit organizations and government entities will continue to be investigated by my office,” said Laxalt, who’s the Republican nominee for Nevada governor in the 2018 election.
Renown Health, one of the organizations impacted by the rate manipulation, recovered $650,327 in restitution from the settlement.
At a press conference Aug. 21, President and CEO of Renown Health Dr. Anthony Slonim announced the intent to use the money for the Stacie Mathewson Behavioral Health and Addiction Institute.
“These funds will help improve the lives of others struggling with mental health and addictions and help improve the health of our community,” said Slonim.
In addition to expanding access to treatment, early screening, intervention and crisis care, the institute will conduct research to identify the root causes of mental illness and addiction, noted Slonim.
In May, Charles and Stacie Mathewson donated $6 million over five years to establish the health and addiction institute in Northern Nevada. The Mathewsons’ son died from an overdose five years ago at age 29.
For the second straight year, Nevada ranked 51st in the nation, according to Mental Health America’s 2018 State of Mental Health Report. The Silver State has the highest prevalence of mental illness and substance abuse, coupled with limited access to treatment and care providers.
“The work we’re doing to implement the SBIRT best practice model — to screen, (brief) intervene, and refer to treatment — for kids 12 and older is already underway, yet we know that there is still so much work yet to be done in Northern Nevada to address all of the issues surrounding addiction and behavioral health,” said Stacie, founder of Transforming Youth Recovery, at the press conference. “I thank everyone who is working to improve the health and wellbeing of our community. I look forward to seeing this new institute grow and truly save lives.”