Nice
pic.twitter.com/flbwWOfaX9
— Edgar Lazo (@mind_centered) February 21, 2023
Posted on 02/21/2023 7:53:36 PM PST by SeekAndFind
Unless you have been taking a social media sabbatical, you probably already know about the row between Project Veritas founder James O’Keefe and the organization’s board of directors. After putting O’Keefe on suspension earlier in February, he finally decided to step down as CEO after behind-the-scenes drama came out into the open.
A video showing O’Keefe reading his resignation letter in front of the organization went viral on social media. “Our mission continues on,” he said. “I’m not done. The mission will perhaps take a new name.”
O’Keefe intimated that members of the board plotted his ouster behind his back, approaching Project Veritas employees to gather negative information to use against him. Indeed, the former CEO presented a text message exchange between a board member and a journalist where the board member offered a raise if the company jettisoned O’Keefe.
Now, the company is striking back, accusing O’Keefe of having misappropriated donor funds and ignored attempts to work with the board to come to a solution. In a post on its website, Project Veritas claimed the board “made numerous attempts in the last 14 days to have a conversation” with O’Keefe, but “he ignored our outreach and decided to instead leak private information to others.”
The company claims it wished to discuss its “long-term sustainability based on staff retention and morale” and also “the company’s financial health.”
Then, the organization dropped its bomb in the form of an accusation that O’Keefe spent donor funds for personal use:
Although PV Leadership has not concluded looking into the full scale of financial issues over the years, a preliminary review at this time indicates that James has spent an excessive amount of donor funds in the last three years on personal luxuries. More is still being uncovered during the ongoing review at this time. Contrary to many reports from today, James was suspended indefinitely pending the resolution of a fulsome investigation and clarity which will need to be provided by a third-party investigative audit report.
So, what exactly counts as “excessive” when it comes to donor funds? The organization listed:
-$14,000 on a charter flight to meet someone to fix his boat under the guise of meeting with a donor
-$60,000 in losses by putting together dance events such as Project Veritas Experience
-Over $150,000 in Black Cars in the last 18 months
-Thousands of dollars spent on DJ and other equipment for personal use
-Hundreds of other acts of personal inurement
The board also insisted that O’Keefe left them “no choice” but to suspend him “when he unilaterally fired the CFO, who can only be fired with Board approval,” which constitutes “a violation of our non-profit’s bylaws.”
On the website, the board insisted that it “cares about the donors of this organization” and that they could not “allow for our donors to send us money and have it be misappropriated in such a way.”
Looking at the board’s list of misappropriation grievances, it seems to me that there is only one item that seems problematic: The alleged $14,000 for a charter flight. If O’Keefe did use donor funds to meet with someone to fix his boat, that’s an issue. But We have not yet heard his side of the story, and the fact that the board clearly used underhanded methods to oust him makes it hard to trust their contentions.
However, the other expenses do not seem to be as big a deal as the board would have us believe. Indeed, conservative influencer Mike Cernovich addressed this part perfectly in a series of tweets:
The Project Veritas Board has back channeled talking points claiming James Okeefe was missing donor funds. What a clown show. Why not ask the donors if they care that James took too many Uber black cars? This is the latest desperate effort to shape the narrative.
— Cernovich (@Cernovich) February 20, 2023
The Project Veritas Board has back channeled talking points claiming James Okeefe was missing donor funds. What a clown show. Why not ask the donors if they care that James took too many Uber black cars? This is the latest desperate effort to shape the narrative.
— Cernovich (@Cernovich) February 20, 2023
If James O’Keefe took too many Uber black rides, then the PV Board would say he used donor funds for personal use, treat the rides as a taxable benefit as part of his salary and compensation, and then James would owe income taxes. This statement is the end of Project Veritas.
— Cernovich (@Cernovich) February 21, 2023
Project Veritas’ social media following has been cascading into nothingness at a rapid rate ever since it decided to get rid of O’Keefe. After the former CEO’s resignation, the company’s numbers dropped even further.
Nice
pic.twitter.com/flbwWOfaX9— Edgar Lazo (@mind_centered) February 21, 2023
At this point, it seems safe to say that, barring any revelation of actual malfeasance on O’Keefe’s part, the organization is dead in the water.
They’re melting down because they seriously thought they could replace James and everything would continue on without a hitch.
We should all definitely trust the board to be above board on all of the board issues with the guy who started the process that lead to the board even being a board? Sorry but I can’t get on board with this board.
Bought by Pfizer, and they thought no one would notice...
Project Pferitas
“Pferitas”
Good one!!
Camel-la, is that you?
It sounds like you.
When youu walk on boards, you have to trust boards.
I admit that I stole it fair and square from elsewhere.
“They’re melting down”
To be fair, blivots (ten pounds of manure in a five pound bag) don’t really melt.
O’keefe pissed someone off. And that’s his job.
“$14,000 on a charter flight to meet someone to fix his boat under the guise of meeting with a donor”
Is his boat bigger than Rubio’s boat?
“Project Veritas’ social media following has been cascading into nothingness at a rapid rate ever since it decided to get rid of O’Keefe.”
I think that was the whole point. O’Keefe finally hurt big big money once too often. Project Veritas had to be over and the board has made sure (1) To end project veritas as an important organization and (2) Geld O’Keefe in the future as a credible source of new revelations when he tries to create a new Project Veritas.
It’s only $14K to charter a flight?
RE: It’s only $14K to charter a flight?
I’m not familiar with the price. How much is it on average?
If you do a search, it looks like about 4 hours of charter time if you rented a small plane.
If you do a search, it looks like about 4 hours of charter time if you rented a small plane.
By that measure, he would have flown about 90 minutes one way and maybe spent an hour with whomever he was talking to. Something like that.
I’m guessing he was rushed and had to get back to business and this was the most efficient way to handle his business.
Was mich nicht umbringt, macht mich stärker.
Friedrich Wilhelm Nietzsche - Götzen-Dämmerung
God help the board and anyone else involved. There will be retribution. James fights.
Lessons learned: As an entrepreneur starting your own small business or organization, do not organize it in such a manner that requires you to answer to a board of directors. Do not file as a 501C3, which subjects you to excessive control by the IRS. If you need capital or partners, organize it as an LLC, which allows you to more easily add or remove partners without giving up control.
Don’t ask me how I know.
Jep, LLC. Complicates taxes a bit with the schedule K’s and rationally having to dividend out at the end of the year to avoid double taxation but you retain control.
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