Clinton Foundation and Southern District of New York
From its inception in 2005 through 2009, the Clinton Global Initiative (CGI) had already raised $46 billion for 1,200 philanthropic projects that were said to have impacted an estimated 200 million people in 150 countries. [4]
Actually the Clinton Foundation has morphed since its inception and gone through several name changes, and created a great number of related entities. Its original purpose was to fund and endow the Clinton Presidential Library. Its tax returns indicate a gradual change in purpose that never received IRS approval. The
"charity" has been acting outside the scope of its legal charter for years. [14]
Jeffrey Epstein
"Attorneys for convicted sex offender Jeffrey Epstein touted his close friendship with Bill Clinton and even claimed the billionaire helped start Clinton's controversial family foundation in a 2007 letter aimed at boosting his image during plea negotiations." [2] In the letter from Epstein’s lawyers (Alan Dershowitz and Gerald Lefcourt) to the U.S. Attorney’s office in the Southern District of Florida, Epstein claimed to be part of the original group that conceived the Clinton Global Initiative (CGI). CGI was renamed the "Bill, Hillary & Chelsea Clinton Foundation" in 2013. The letter aimed to boost Epstein’s image and may have contributed to his successful plea bargain on the charge of using underage girls in a sex ring. The letter says Epstein hosted Bill Clinton on a 1-month trip to Africa regarding the AIDS crisis. [1] Whether Epstein was an actual founder of the foundation or exaggerated his role in a phony effort to appear altruistic is not clear. He is not cited in official paperwork filed by the Clinton Global Initiative as a founder or director. Bill Clinton publicly credited longtime assistant Doug Band as conceiving of the idea. [2]
Others CF Donors of Note
The Panama Papers revealed some major Clinton financial partners using Panamian law firm Mossack Fonseca to move assets around the world surreptitiously. Canadian mining magnate Frank Giustra donated over $25M. The Chagoury family of Nigeria committed $1 billion to the Clinton Global Initiative. [3]
Offshore entities were involved in the uranium deal that resulted in Russian ownership of 20% of American uranium production. Frank Giustra used Mossack Fonseca to create UrAsia Energy, which acquired lucrative uranium concessions in Kazakhstan with the help of Bill Clinton in 2005. UrAsia Energy eventually became Uranium One, which acquired uranium assets in the U.S. and then was sold to the Russian State Nuclear Agency (ROSATOM) in 2010. The deal required approval from Hillary Clinton’s State Department. Nine Uranium One shareholders sent a combined $145M to the Clinton Foundation, including a single contribution of over $2M by CEO Ian Telfer. Why did the Clinton Foundation neglect to report some of those contributions? They were first uncovered using Canadian tax records by the authors of Clinton Cash. [3]
Sergei Kurzin, a Russian mining investor involved in Uranium One, says he donated $1M to Clinton Foundation. He also used Mossack Fonseca; his name appears on several oil companies set up by the firm.
Mossack Fonseca helped Ronald Chagoury set up a firm called Echo Art Ltd. domiciled in the British Virgin Islands.
Two years earlier in 2014, a whistleblower released the names of super-rich individuals with Swiss accounts at HSBC. The International Consortium of Investigative Journalists then documented transfers of $81M from these accounts to The Clinton Foundation. They revealed that Swiss accounts were held by numerous Clinton donors. Jeffrey Epstein had various accounts totaling $3.5M; in 2006 Epstein gave $25,000 to The Clinton Foundation. [2]
Note that Epstein was a money-manager. He managed other people's money. (It's not clear why people gave him money to manage.) Did Epstein arrange the use of secret Swiss accounts for his clients?
British retail magnate Richard Caring gave the Clinton Foundation $1M from his HSBC Swiss account in 2005. He donated shortly after Bill Clinton attended his charity ball dressed as a Russian general. [add material from 7]
Frank Giustra's HSBC account held up to $10M in 2006-2007. His first contributions to the Clinton Foundation were in 2005. [3]
American entrepreneur Eli Broad, a $1M+ contributor to the Clinton Foundation, held accounts at HSBC.
Denise Rich, ex-wife of financier and one-time international fugitive Marc Rich, who was pardoned by President Bill Clinton on his last day in office, has contributed up to $500,000 to the Clinton Foundation. [3]
Other major CF donors included Michael Schumacher (a racing driver seriously injured in 2013 skiing accident) and French financier Arpad Busson.
Swiss bank accounts are not necessarily illegal. However, firms such as Fonseca offer services to minimize tax burdens and keep assets hidden.