Sunday, November 29, 2015

Questions Swirl Around Clinton Foundation 'Fund' In Colombia

Clinton Foundation: In yet another revelation about the shifty financial dealings of the Clinton Foundation, it has been discovered that the "charity organization" ran an unregistered private-equity fund in Colombia.
The obvious question is why didn't the foundation register Fondo Acceso, the Colombia-based fund? It's hard to tell. Was something shifty going on? Or was it legitimate but just set up incompetently?
Whatever, according to the Washington Free Beacon's reporting, the $20 million investment firm is "registered in Colombia as a 'simplified stock corporation,' which (Colombian) legal experts said precludes it from doing business as a private-equity fund."
The private-equity fund was formed in 2010 by former President Clinton, Mexican billionaire Carlos Slim (who owns 17% of the New York Times) and Canadian mining titan Frank Giustra. The precise impetus behind it all is hard to tell.
The Fondo Acceso website, now closed, previously described itself as "a Private Equity Fund that seeks investment opportunities in small and medium Colombian (companies) with the purpose of economic and social returns."
Questionable actions seem to be a pattern with the Clinton Foundation. As we noted a week ago, "for years, the foundation used a charitable shell in Canada for the purpose of bundling donations from foreign nations and politicians."
Canada has strict privacy laws, which allowed the Clinton Foundation to accept money laundered through their Canadian operation with little or no transparency about the actual donors.
The questions were so great that the Clinton Foundation was compelled to refile its taxes for the years 2010 through 2013 to account for the "inadvertent" bundling of foreign donations during that time — years during which current Democratic front-runner Hillary Clinton was secretary of state.
Read the rest of this IBD Editorial HERE.

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