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NEW YORK – The Bill, Hillary, and Chelsea Clinton Foundation – already under scrutiny for foreign donations – is now being accused of fraudulent and possibly criminal mismanagement.
Over the past six weeks, Wall Street financial analyst and investor Charles Ortel has shared with WND, prior to publication, the results of his six-month, in-depth investigation into what he characterizes as an elaborate scheme devised by the Clintons to enrich themselves.
Through their foundation, Ortel contends, the Clintons have defrauded an unsuspecting international public of hundreds of millions of dollars for personal gain.
The findings come amid separate charges in Peter Schweizer’s upcoming book “Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich.”
In Ortel’s April 20 report, “False Philanthropy? First Interim Report Concerning The Bill Hillary & Chelsea Clinton Foundation,” he asks: “Did management exercise vigilance to ensure that the Clinton Foundation actually carried out its original and its amended tax-exempt purposes?”
Ortel asks further: “Did directors take reasonable care, as fiduciaries, under applicable state, federal and foreign laws to operate this charity serving, at all times, a public interest?”
If not, the executive management as well the board of directors of the Bill, Hillary, and Chelsea Foundation, as well as each of the Clintons personally, may face serious legal liabilities that could extend beyond civil mismanagement.
This article examines the first six “Specific Concerns” that Ortel has detailed.
Ortel says he found evidence the executive leadership of the Clinton Foundation mismanaged, perhaps intentionally, the financial and regulatory reporting required by both state government and federal authorities for charities under tax-exempt status as 501(c)3 foundations.
The next WND article in the series will focus on Ortel’s remaining concerns, including what appears to be a complex fraud the Clintons perpetrated that exploits HIV/AIDs victims in developed countries. The scheme, he said, drew funds from government-collected airline ticket liens imposed through the auspices of the United Nations World Health Organization.
Ortel began his April 20 interim report by posing a series of questions concerning the public disclosures of the Bill, Hillary, and Chelsea Foundation.
Ortel explained to WND that one of the reasons his analysis has taken months is that he found it painstakingly difficult to analyze publicly available financial information pertaining to the Clinton Foundation, because, as far as he could determine, reporting by the foundation since virtually its beginning is not technically complete in numerous material respects.
“The numbers that the Clinton Foundation supply to the global public in its legally mandated filings do not add up, are frequently incorrect and overall appear to be materially misleading,” Ortel explained.
He said that in numerous cases, the Clinton Foundation “appears to have followed inconsistent policies adding in appropriate portions of the various activities it pursued around the world to create ‘consolidated’ financial statements.”
“In some instances, portions were added only for some of the years in which the entities remained in operation, artificially enhancing purported financial results,” Ortel concluded. “In other cases, important elements of activity were improperly characterized and combined.”
Read more at WND:
http://www.wnd.com/2015/04/wall-street-analyst-uncovers-clinton-foundation-fraud/