Charles Ortel is retired Wall Street analyst.
The Sunday Times of London described him as "one of the finest analysts of financial statements on the planet", in a 2009 story about the troubles at AIG.
He claims the Clinton Foundation "is a charity fraud”, after studying it since February 2015.
"I decided it would be fun to cross-check what their donors thought they did when they donated to the Clinton Foundation, and that’s when I got really irritated,” he said.
“There are massive discrepancies between what some of the major donors say they gave to the Clinton Foundation to do, and what the Clinton Foundation said what they got from the donors and what they did with it."
“I’m against charity fraud. I think people in both parties are against charity fraud, and this is a charity fraud,” he said.
"The nation’s most influential charity watchdog put the Clinton Foundation on its “watch list” of problematic nonprofits in 2015."
"The Clinton family’s "charity" took in more than $140 million in grants and pledges in 2013 but spent just $9 million on direct aid."
“It seems like the Clinton Foundation operates as a slush fund for the Clintons,” said Bill Allison, a senior fellow at the Sunlight Foundation, a government watchdog group where progressive Democrat and Fordham Law professor Zephyr Teachout was once an organizing director."
From Ortel's EXECUTIVE SUMMARY:
"To informed analysts, the Clinton Foundation appears to be a rogue charity that has neither been organized nor operated lawfully from inception in October 1997 to date--as you will grow to realize, it is a case study in international charity fraud, of mammoth proportions."
"In particular, the Clinton Foundation has never been validly authorized to pursue tax-exempt purposes other than as a presidential archive and research facility based in Little Rock, Arkansas. Moreover, its operations have never been controlled by independent trustees and its financial results have never been properly audited by independent accountants."
"As the following IRS publication states clearly, a nonprofit corporation must pass both an “organizational test” and an “operational test” to be legitimately exempt from federal income taxes."
"The Clinton Foundation and each part of the Clinton Charity Network fails either the organizational test, the operational test, or both of these tests. The consequences for failing to meet either the organizational test or the operational test are severe. In normal circumstances, a charity would have its tax-exempt status revoked retroactively."
"The “charity” would then have to refile its tax returns and pay corporate income taxes upon any profits earned from the date its authorization is revoked, forward to the present."
"Donors who took tax deductions in the relevant time periods would owe personal income taxes on contributions they had made."
Ortel plans to publish 40 detailed Exhibits starting September 7 on www.charlesortel.com
"All told, declared donations to Clinton Foundation entities from 1997 through 2014 are greater than $2 billion; but this vast amount is likely a pittance when compared to sums sent to affiliated “charities” and relief efforts around the world. Though required by strict laws, no part of the Clinton Charity Network (including affiliates and joint ventures) has ever procured a comprehensive, independent, and compliant audit of its financial results."
"No part of the Clinton Charity Network is controlled by experienced and independent trustees who can defend against conflicts of interest--in consequence Clinton charities regularly are used illegally to create substantial “private gain”, and to advance the political interests of the Clinton wing of the Democratic Party."
"Unless and until an independent conservator is appointed by the Arkansas State Attorney General, the public will not know the true dimensions of a fraud that started in Bill Clinton’s home state and in Washington, D.C., then metastasized, and spread around the world."
His stunning summary: "An educated guess, based upon ongoing analysis of the public record begun in February 2015, is that the Clinton Foundation entities are part of a network that has defrauded donors and created illegal private gains of approximately $100 billion in combined magnitude, and possibly more, since 23 October 1997."