Renowned Wall Street analyst Charles Ortel is uploading a series of reports on The Clinton Foundation showing what he alleges is fraudulent activities by the Foundation.
Ortel says that the Clinton Foundation has broken state and federal law.
In his reports, he questions whether the Clinton Global Initiative is “even a duly constituted tax-exempt charity” and backs it up.
The numbers, he says, do not add up, are frequently incorrect and appear to be materially misleading. They have followed inconsistent policies. “In other cases, important elements of activity were improperly characterized and combined.”
The Foundation solicits donations even though its informational filings are not in compliance with applicable law. Regulators at Federal, State, Local, and international levels are not doing what they should do to protect the public, Ortel concludes.
In one of Ortel’s reports, he said, “I will show in detail how Clinton Foundation entities submitted numerous false and materially misleading filings, or failed to submit disclosures to authorities within New York State and the State of Georgia, respectively. Infractions in both of these states (to name just two) started in 2001 and continue to the present.”
Ortel is a graduate of Harvard Business School who worked at the prominent mergers and acquisition firm Dillon Read and then at several boutique outfits. He went on to establish his own financial advisory firm.
In 2008, Ortel correctly identified problems with General Electric’s financial statements in 2008. He also blew the whistle on AIG. Based on his work detailing problems at AIG, the Sunday Times of London described Ortel as “one of the finest analysts of financial statements on the planet.”
The Clinton Foundation has always been the bigger story of fraud and corruption. It’s sole purpose is to allow the Clintons the lifestyle of heads of state even when they are not.
Mr. Ortel has called for an investigation.
The Clinton Foundation contributed $2 million to a friend’s green energy business, which is not a charity, and it was recently revealed that they took in $130 million from malodorous countries who abuse women.