Wall Street Whistleblower Turns His Scrutiny on the Clinton Foundation
Charles Ortel: ‘This is a charity fraud’
BY: Alana Goodman | May 5, 2016 | Washington Freebeacon
The Wall Street analyst who uncovered financial discrepancies at General Electric before its stock crashed in 2008 claims the Bill, Hillary, and Chelsea Clinton Foundation has a number of irregularities in its tax records and could be violating state laws.
Charles Ortel, a longtime financial adviser, said he has spent the past 15 months digging into the Clinton Foundation’s public records, federal and state-level tax filings, and donor disclosures. That includes records from the foundation’s many offshoots—including the Clinton Health Access Initiative and the Clinton Global Initiative—as well as its foreign subsidiaries.
According to Ortel’s reports, the contribution disclosures from the Clinton Foundation don’t match up with individual donors’ records. He also argued that the foundation is not in compliance with some state laws regarding fundraising registration, disclosure requirements, and auditing rules.
This week, Ortel is starting to release his findings in the first of a series of up to 40 planned reports on his website. His allegation: “this is a charity fraud.”
“Starting almost 20 years ago in 1997, the Clinton Foundation spread its activities from Little Rock, Arkansas, to all U.S. states and to numerous foreign countries without taking legally required steps to function and solicit as a duly constituted public charity,” wrote Ortel, in a letter posted on his website.
Although Ortel has been a commentator for conservative outlets, his findings might not be easy for authorities to ignore. After spending decades working in mergers and acquisitions at some of Wall Street’s top firms, he has been an early whistleblower on financial irregularities at companies such as General Electric and AIG.
It’s shaping up to be an interesting election. Maybe even a nail-biter for Hillary and Bill, no matter how much they try to cover it over and rework the documents.
Also interesting that to Democrats none of this matters, it’s another “nothingburger.”
But according to this report, so far, there are flagrant violations all the way to the beginning in the 1990’s. And if they had planned — if push comes to shove — on getting a presidential pardon from Obama, that looks very problematic. Ortel points out that most of the violations fall under state laws, not federal, so that would eliminate the presidential pardon possibility. Well, it is a real mess for Clintons and their allies. Nothing it ain’t.