Obama and the Missing Nobel Prize Money

The other day I pointed out the fact that President Obama has yet to donate the money he was awarded as the Nobel recipient. Obama stated he would donate the $1.4 million prize to charity. It’s been several weeks since he received the money and no one knows what’s happened to it.

The US Code is very clear in Receipt and Disposition of Foreign Gifts and Decorations. The code states:

1) The Congress consents to—
(A) the accepting and retaining by an employee of a gift of minimal value tendered and received as a souvenir or mark of courtesy; and
(B) the accepting by an employee of a gift of more than minimal value when such gift is in the nature of an educational scholarship or medical treatment or when it appears that to refuse the gift would likely cause offense or embarrassment or otherwise adversely affect the foreign relations of the United States, except that—
(i) a tangible gift of more than minimal value is deemed to have been accepted on behalf of the United States and, upon acceptance, shall become the property of the United States; and

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