June 28, 2016

CLINTON FOUNDATION’S CAPTIVE ACCOUNTING FIRM PROSECUTED BY SEC: And that’s not all. BKD, the small accounting firm Bill Clinton selected and kept for years to do his foundation’s books, was also prosecuted by the FDIC, according to Richard Pollock of the Daily Caller News Foundation Investigative Group.

The SEC and FDIC prosecutions were “for ‘unprofessional conduct’ and ‘gross negligence,’ according to federal court documents. And the Public Company Oversight Accounting Board (PCOAB), the nation’s top federal oversight agency for American accounting firms, reported that BKD violated auditor independence rules over the years, which its inspectors reported as ‘significant deficiencies,’” according to Pollock.

The foundation switched to PriceWaterhouseCoopers in 2013 and restated its tax filings for 2010 through 2014. Pollock quotes Wall Street whistle blower Charles Ortel saying the restatements suggest there was a “a long pattern of gross negligence and willful malfeasance on the part of the trustees” who kept BKD for more than a decade.

Why did Clinton choose BKD and keep it around for so long? Pollock reports for the first time anywhere that the former president “chose the Little Rock, Arkansas office of BKD in 2001 during construction of his presidential library there. Even then there were signs of conflicts of interest as BKD was also the auditor for the construction company’s parent company. In addition, the parent company’s chief financial officer also served on BKD’s official management committee.”

Just another cozy, crooked Clinton deal.

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