It's not only the FBI -- which is
investigating her mishandling of classified files -- that has Hillary Clinton worried. The
Clinton Foundation's financial skulduggery is also set to return to the spotlight. Ken Silverstein
has the very interesting tale.
The Clinton Foundation has until November 16 to amend more than ten years’ worth of state, federal and foreign filings, but it’s going to be virtually impossible to do so without acknowledging that it has engaged in massive accounting fraud since its inception
...the [Clinton] foundation portrays itself as do-gooder nonprofit organization but a cursory look reveals questionable and incomplete disclosures of its activities and accounts, as well as incredible misspending of donor money, virtually since its inception...
...the problems appear set to catch up with the foundation (now formally known as the Bill, Hillary, & Chelsea Clinton Foundation), which has until November 16 to amend more than ten years’ worth of state, federal and foreign filings. According to Charles Ortel, a financial whistleblower, it will be difficult if not impossible for the foundation to amend its financial returns without acknowledging accounting fraud and admitting that it generated substantial private gain for directors, insiders and Clinton cronies, all of which is against the law under an IRS rule called inurement.
While inurement may sound obscure to the layman, it’s an ancient legal principle and the IRS is very clear that it is verboten. If you are familiar with it, it becomes immediately clear that Bill Clinton – and arguably Hillary and daughter Chelsea as family members and fellow Clinton Foundation trustees – could have big problems come November 16. So, too, could Clinton cronies like Ira Magaziner (see below) and Doug Band, a Clinton administration and former Foundation insider who subsequently became a founding partner of a bipartisan business swamp called Teneo Holdings...
...“It’s illegal to set up a foundation whose primary purpose is to create financial gain,” said Ortel – who helped expose massive financial fraud by GE, GM and AIG, thereby helping trigger the 2009 financial collapse...