Financial expert Charles Ortel says “The Clinton Foundation is the biggest charity frauds in history.” Ortel, who does high powered research for top Wall Street investment firms, applied his skills to analyzing the Clinton Foundation and contends, “I feel one of the things that makes this country exceptional is the charitable spirit. . . . Charity is a noble thing, particularly when you do it for no recompense. The Clintons are out there holding themselves out as if they are charitable philanthropists, and in reality. . . . I argue they are really Robin Hood in reverse. They are stealing from the poor to reward the rich, and I find that reprehensible behavior.”
How much money has the Clinton Foundation raised globally? Ortel says it’s a “$100 billion criminal conspiracy” and goes on to say, “I think it is a disgrace. To put that number into perspective, depending on how you look at the Bernie Madoff Ponzi scheme, that was either $40 billion to $60 billion. This is $100 billion, and maybe more.”
How much Clinton Foundation money actually makes it to charitable causes? Ortel says, “It’s impossible to tell from the filings. You are supposed to tell from the filings, and it’s impossible to tell. One of the biggest expenses in the recent period in the Clinton Foundation is for
Pharmaceuticals for supposedly fighting HIV Aids. If this were a well-run charity, you would provide a detailed breakdown of what pharmaceuticals by type and at what price. There is none of that disclosure. You don’t know if that pharmaceutical number is completely made up or not. You have no way of telling, and the auditors have never done their work. This is why I say this is a text book case study in global charity fraud. It needs to be exposed as such.”
How did this so-called charity get so far off track? Ortel explains, “When you look at any foundation, and the Clinton Foundation in particular, you have to check and see what its authorized tax exempt purposes are. Because this entity raises money from the public continuously . . . they have to be very specific. Their authorized tax exempt purpose, stated in their application dated 23 December 2007, was just supposed to be Presidential archival research facility in Little Rock. They never have been authorized as far as I can tell from the public filings . . . they have never been authorized to fight HIV Aids, fight climate change, convene meetings in New York and set up these various initiatives. None of them has been validly authorized, which means they have been raising money with materially false and misleading public filings. They have been doing it using the mail, using the Internet and using telephones, all of which is a federal crime.”
Ortel says he will be publishing a new report on the Clinton Foundation in a few weeks. Ortel says he has published 40 reports on the Foundation so far. You can find his work free of charge on CharlesOrtel.com.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.