Clinton Foundations records filled with inconsistencies that suggests donations do not match receits
After more than a year of research, a Wall Street analyst is arguing the Clinton Foundation's books are riddled with financial inconsistencies that rise to the level of "fraud."It goes on to point out that the Foundation was doing a gala and fundraising in a state in which it was not authorized to solicit. This looks like an ongoing problem of at best sloppy bookkeeping by the Clinton's organization. It is a problem they have not been able to manage. The lack of good record keeping makes it difficult to determine if the money is going to things other than the stated purpose of the organization.
Charles Ortel, who gained recognition for correctly identifying problems with General Electric's financial statements in 2008, has prepared 40 reports highlighting discrepancies that he said proves the Clinton Foundation has covered up cash flow since 1997.
The financial whistleblower said his 15 months of research revealed gaps in the amount of money donors claim to have given and the amount of money the foundation claims to have received.
The Clinton Foundation network is actually comprised of several different charities that all perform seemingly similar functions. Those include the Clinton Health Access Initiative, the Clinton Global Initiative, the Clinton Climate Initiative and several more, all with varying degrees of overlapping finances.
Ortel said the foundations' complex paper trails are littered with mistakes and repeat filings.
In November, the Clinton Health Access Initiative was forced to refile its tax returns after a review revealed big-ticket foreign donations that had been left off its Form 990 filing.
The Bill, Hillary and Chelsea Clinton Foundation has been removed from the website of a prominent nonprofit watchdog, Charity Navigator, because its "atypical business model can not be accurately captured" by methods used to size up traditional charities.
The pattern extends to smaller charities linked to the Clintons, Ortel noted. One organization founded by former President Bill Clinton, the American India Foundation, has problems that stretch around the country.