Disclaimer: This article may contain the personal views and opinions of the author.
The Clinton Foundation posted errors in their tax reporting that involved $483 million dollars.
Investigative journalist and contributor for The Gateway Pundit, Joe Hoft, pursued the Clinton Foundation and targeted their tax history.
Hoft worked in the private sector as a corporate executive, which included time in the auditing sector. His experience helped to unlock the taxation jargon and neglect surrounding their $483 million dollar mistakes.
His findings were shocking.
According to Hoft, in his Gateway column:
“BKD issued slapdash audits and tax returns (under penalties of perjury) for 13 years. By dismissing AICPA professional standards and IRS compliance, the firm created a veneer of legitimacy for the Clinton Foundation. BKD’s main fiduciary obligation is to serve and protect public interest, not the Clinton Foundation.”
“I filed a complaint with the Arkansas Board against BKD, LLP. The complaint (59 allegations), relying on public documents, charged BKD with professional misconduct and failure to comply with the following AICPA standards and the IRS Code.”
He continued:
“The complaint’s primary focus is the Clinton Foundation’s 2011 amended IRS Form 990 tax return dated November 16, 2015, and the underlying 2011 audited financial statements.”
After Hoft filed the complaint against BKD and the Clinton Foundation, the firm responded with an arrogant response.
They dismissed it and called Hoft a “conspiracy theorist.”
He wrote, “The Foundation’s Board of Trustees engaged Simpson Thacher & Bartlett, LLP, to review its “decadal” (Or is it decadent?) governance. Their report was issued in late December 2011. WikiLeaks released the draft document widely covered in media outlets.”
He continued, “The governance review found severe organizational and internal control weaknesses jeopardizing the Foundation’s tax-exempt status. Why did BKD ignore the flashing warning signals?”
After Hillary Clinton’s failed presidential campaign in 2016, their foundation went back and amended and refilled several portions of their tax filing.
They justified the changes by claiming they had to disclose miscellaneous grants and paid speeches, but several lines on their previous taxes remained blank.
A letter provided by Donna Shabaka, the foundation president, shows she acknowledged that “errors were made” and that they decided to amend the Clinton Foundations formers for the years 2010-2014.
Hoft went through by himself, line by line, the details of the tax document.
He found:
“These changes required the Foundation to reissue the consolidated financial statements or compulsory for BKD to rescind its audit opinions; however, neither happened.”
“BDK violated independence, integrity, and objectivity ethical standards by compiling and auditing the Foundation’s financial statements.”
BKD ignored the restatement when it compiled and audited the 2011 and 2012 consolidated financial statements.”
“The Foundation and BKD never disclosed the monumental blunder, which grossly overstated its consolidated charitable activities and possibly concealed the diversion of funds.”
“The accounting error from 2006 through 2011 totaled a whopping $483 million overstatement of revenue and expense.”
He went on to discover very questionable transactions, such as the very expensive Clinton Library.
