Diary

Myra Adams: November 16 is IRS D-day for Clinton Foundation Charity Fraud

November 16 is the day that the Bill, Hillary, and Chelsea Clinton Foundation must respond to an extended annual deadline and file their IRS Form 990 for tax year 2014.

Ultimately, the Clinton Foundation’s 2014 filing will prove if our nation is governed by laws applied equally to all — or by corrupt political officials who, at the highest level of government, turn the other cheek when fellow cronies break the law.

Am I exaggerating? Judge for yourself.

First, if you are unfamiliar, an IRS Form 990 provides an annual overview of a nonprofit organization’s activities along with detailed financial information about donors and revenues. After filing, the IRS will determine whether an organization can maintain its all-important tax-exempt status.

Second, you may recall that back on April 23, 2015 Reuters embarrassed the Clinton Foundation when the news organization (not the IRS) “found errors in how they reported donations from governments” in 990 filings from 2010, 2011 and 2012. (Surprise! Years that Hillary Clinton was secretary of state.)

Reuters’ revelation was announced days after the New York Times published excerpts from Peter Schweizer’s bombshell book, Clinton Cash with its provocative subtitle: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich.   

Immediately in response to Reuters’ investigation, Clinton Foundation spokesperson Craig Minassian wrote in an email, “We are prioritizing an external review to ensure the accuracy of the 990s from 2010, 2011 and 2012 and expect to refile when the review is complete.”

In September, five months later, I raised questions about when the external review was going to be complete — when the 990s would be refiled — and where the heck was the IRS?  (Anyone who has tangled with the IRS knows the agency is not known for its patience.)

Then last Friday, with the November 16 IRS deadline looming, Craig Minassian again made a statement on behalf of the foundation. As reported by Politico:  “November 16 is only the IRS deadline for the previous year’s (2014) 990 to be filed,” Minassian said. “We’ll keep you posted on our plans.”

Misassian’s statement reeked of Clintonian arrogance. He was referring to what had been expected tax re-filings for the Clinton Health Access Initiative (CHAI) — a separate Clinton Foundation spin-off organization. This was after a spokeswoman admitted last April that mistakes were also made on CHAI’s 990 forms for 2013 and 2012.

Earlier this week, after pressure from the media and Republican National Committee Chairman Reince Priebus, who asked the IRS to audit CHAI, the foundation has had a change of heart.

Yesterday, Politico reported:

An organization related to the Clinton Foundation has again reversed itself on fixing errors on its federal tax filings and now says it plans to submitted amended returns. Clinton Health Access Initiative spokeswoman Maura Daley said Wednesday that the group has now decided to refile two years’ worth of forms with the Internal Revenue Service.

It is important to keep in mind that the Clinton Foundation “empire” is a tangled web encompassing at least 4 separate organizations in 30 countries (including the U.S.)  Now the larger question remains: “What is keeping the main Clinton foundation from refiling its Form 990s during the years that Hillary was secretary of state?”

Making the November 16 Form 990 deadline for 2014 so significant and potentially revealing is that Hillary Clinton, a Clinton Foundation Director at that time was actively planning on running for president of the United States. Thus the Foundation’s industrial strength vacuum cleaners would have been in overdrive sucking up piles of cash from individuals, corporations and foreign governments looking to curry favor with Clinton, who in 2014, was the odds-on favorite person to win the office in 2016.

Just a minor housekeeping note: Mrs. Clinton resigned from the board of the Clinton Foundation on April 12, 2015 – the same day she officially launched her campaign for president.

Now, enter Charles Ortel, a respected Wall Street analyst and investor, who, after conducting extensive research into the Clinton Foundation has called it, “a vast criminal conspiracy.”

He suspects he understands how the family has siphoned off foundation money for personal and political use by utilizing creative accounting tactics.

On Ortel’s website  are several detailed reports that have unraveled and revealed just how much the Clinton Foundation and their various subsidiaries have violated state, federal and international laws. Ortel told RedState, “The fact that the IRS has not audited the foundation is a political and financial crime pointing to how much the Clintons are protected.”  Ortel added, “If Clinton was not in the foundation’s name the directors would be in jail for fraud.”

Regarding the November 16 deadline, Ortel is looking forward to closely examining the data in the foundation’s 2014 Form 990 along with the required financial statements. He assumes the reports will be filed by PricewaterhouseCoopers, the same nationally known accounting firm that filed the foundation’s 990 and financial statements for 2013.

Ortel says he can prove that the 2013 Form 990s and all financial statements filed by the firm are criminally false and misleading. Tax year 2013 was PricewaterhouseCoopers’ first year auditing the foundation. He has written to them detailing all the fraud contained within their statements but the firm has yet to contacted him back.

Ortel strongly believes that the 2014 Form 990 and accompanying financial statements will be fraudulent unless at least five to ten years of 990s are also corrected and refiled. In Ortel’s opinion that is why the main Clinton Foundation cannot refile the 990 forms from 2010, 2011 and 2012 after stating they would do so back in April.

According to Ortel’s research, PricewaterhouseCoopers inherited a mess from BKD, a Little Rock, Arkansas accounting firm that signed the Clinton Foundation’s 2012 Form 990.

Furthermore and most revealing Ortel says, “PricewaterhouseCoopers could be brought down by the Clinton Foundation since they are complicit in perpetrating fraudulent financial statements in the same manner that Arthur Anderson was destroyed by the Enron accounting scandal.”

Anticipating the November 16 filing date, Ortel’s website links to a countdown clock that reads, Final Charity Fraud Confession Deadline.

However, he strongly doubts that PricewaterhouseCoopers will do any confessing. Thus Ortel has plans to engage the media and call them out publicly.

Finally, it is up to the IRS to prove Ortel right or wrong but most important is whether our nation is governed by laws that apply to everyone — even those named Clinton.