November 16 tax deadline looms for Clinton Foundation

Ken Silverstein reports at Byline,

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.

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.

...A New York Post story about the development noted that in 2013 the family’s foundation “took in more than $140 million in grants and pledges in…but spent just $9 million on direct aid.”

...Last April, Clinton Foundation acting CEO Maura Pally acknowledged “mistakes” in its tax filings and promised they would be corrected by November 16.

The problem, Ortel says, is that filing correct returns is impossible for the Clinton Foundation without admitting to criminal felonies. “The foundation has never filed a legitimate, independently certified and complete audit of their financial statements since it was founded, as is required under state, federal and foreign law” he told me during one of multiple phone conversations. “The IRS has let them get away with serious fraud.”

...Note here that as board members and trustees, Bill, Hillary (from 2013 to early 2015) and Chelsea are legally accountable for any foundation misconduct.

The Clinton Foundation was initially authorized by the IRS to act as a library and research center about Bill Clinton’s presidency. It expanded its purposes and began raising billions of dollars without asking the IRS for permission to do so. That’s illegal.

“Using a charity that exploits victims of AIDS for your personal gain and advancement puts you in the lower circles of hell, but New York and the IRS haven’t done anything to stop them,” Ortel said.

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