it was a travel slush fund... it was a travel slush fund...“The Bank Secrecy Act was enacted to protect the public from harm by identifying and detecting money laundering from criminal enterprises, terrorism, tax evasion or other unlawful activities,” the special agent in charge for Internal Revenue Service Criminal Investigation, explained.
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L/E needs to examine the Clinton Foundations' bank accounts used to pay for these activities.
The "Bank Secrecy Act" was passed to protect the public from harm by identifying and detecting criminal enterprises, money laundering, tax evasion or other unlawful activities.
Under the Bank Secrecy Act, banks are required to establish, implement and maintain programs designed to detect and report suspicious activity that might be indicative of tax fraud, govt fraud. money laundering, embezzlement, and other financial crimes.
<><> Joint bank accounts might be used to facilitate the transfer of of tax-exempt funds.
<><> Foundation monies may pay for personal and private expenses, credit cards, real estate subsidies, campaign expenses, travel, and vehicle purchases.
<><> To cover their tracks, fake invoices might be created to show that money deposited into foundation accounts was being used for legitimate allowable purposes.
<><> The scheme might be advanced by issuing phony statements of payments from financial sources that actually covered the transfer of funds for their own use.
L/E is directed to get ahold of:
(1) copies of foundation checks,
(2) wire transfers,
(3) account statements,
(4) invoices,
(5) bills,
(6) delivery tickets,
(7) correspondence including e-mail, employment contracts, loan agreements, and,
(8) any other books or records.
L/E should also explore foundation monies paid (a) to brokers, sub-brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.
L/E should scrutinize foundation bank accounts for suspicious activites: (A) large deposits, (B) funds transferred from one account into another, (C) frequent requests for withdrawals.
Bank records might also show diversions to secret LLC other accounts, to operate personal adventures---like campaigns.
Tax fraud can also be facilitated by withdrawals, gift cards purchases, credit card purchases and intra-bank transfers from foundation accounts into personal and campaign accounts.
A huge tipoff is whether foundation bank withdrawals support campaignh activities and luxurious lifestyle including payments for real estate, investment and stock holdings, jewelry, luxury vehicles, resort travel....... and gifts from luxury outlets for wives and mistresses.
Taxpayers demand the Bank Secrecy Act be used to prosecute foundation fraud pronto.