Posted on 02/28/2005 5:57:25 AM PST by danno3150
WASHINGTON — Two major American figures in the U.N. oil-for-food scandal worked together to ship humanitarian supplies to Iraq through a charity connected to celebrities, The Post has learned.
According to documents recently obtained by the House International Relations Committee, Texas oilman Oscar Wyatt and Saddam Hussein's American oil spy, Samir Vincent, worked together to finance shipments of medicines and baby formula for Iraq in 1997 and 1998 through such charities as the Friendship Force Foundation, a group closely connected to former President Jimmy Carter, his wife, Rosalynn, and other luminaries.
(Excerpt) Read more at nypost.com ...
Jimmuh! Say it ain't so, Jimmuh!
Follow the money...
Bad people doing good and good people doing bad,all for their own self interest.
-Vincent could not be reached for comment. A spokeswoman for Wyatt said he was out of the country.-
They're probably busy making "friends" with Iran and Syria.
Juicy! This should be interesting...
Huh?
Revenue: $127,115,819
Expenses: $80,758,571
Assets: $240,899,482
Liabilities: $2,910,865
Almost a quarter of a billion dollars in assets? And we all subsidize their activities? Special tax exemptions, etc. Heck, the American taxpayer even pays for part of their postage.
As I have been posting here for many years. There are over 1,000,000 nonprofit corporations in America. Way too many are in business to push their own political agendas and/or enrich their handlers. We need to reform the nonprofit corporation laws in America and push things back to when nonprofits were real charities that helped people. Heck, some of them like PETA don't help people in any way at all.
Wyatt Oil, eh?
All "do gooders" are always and ONLY doing it for themselves. They need the smug, condescending feeling of moral superiority.
My guess that we haven't even touch the bottom of the barrel. Pun intended.
I don't see Haliburton mentioned anywhere. How can this be?!!!!
Dick Cheney probably pushed that little girl down the well, just so Halliburton could reap the Public Relations windfall of rescuing her... < /donk>
As part of the Tax Exempt Compensation Enforcement Project, the IRS intends to examine non-profit organizations (NPO's), to learn more about the practices nonprofits follow as they fill out Form 990, the main public disclosure documents for charities and foundations, and whether accounting fraud and tax evasion is taking place, and whether the compensation of specific individuals is excessive and, and whether instances of questionable compensation practices may evade IRS, banking and SEC laws.
The IRS will examine NPO insider transactions, such as (1) loans, the (2) sale, (3) exchange or (4) leasing of property to non-profit officers and others.
In particular, the IRS will look to see how organizations report (5) "excess benefit transactions" on Form 990, and (6) executive pay.
The IRS could determine whether the co-conspirators----through the Carter Center ----are properly accounting for all of its activities including tax-funded activities, whether they are inflating legal costs, and whether the co-conspirators are using foundation dollars for the purposes stated.
Form 990, the main public disclosure documents for NPO's, including charities and foundations, could determine whether accounting fraud and tax evasion is taking place, and whether the compensation of specific individuals is excessive in order to transfer assets, and, and whether instances of questionable compensation practices may evade the IRS, and US banking laws.
Under the aegis of a NPO these individuals could get away with huge financial travesties.
Within that structure all kinds of financial misdeeds can be hidden. Corporate monies could be illegally laundered, used to fund campaigns to evade the FEC, and transfer corporate assets to personal accounts to evade the SEC, and state and federal banking laws.
For example, it would be interesting to know what kind of financial activities these individuals, and officers of publicly-traded corporations were engaged in and whether company donations to these individuals were properly accounted for on company financial statements, whether shareholders were duly notified of corporate donations, whether the donations might be illegally made from corporate funds in the names of private individuals, and whether these individuals, and their co-conspirators, properly account for these donations when filing official statements.
If these individuals, and their co-conspirators, rig federal and state funding statements in collusion with officers of publicly-held companies who filed false financial instruments, that would be considered aiding and abetting the commission of federal and state crimes. Employing fraudulent accounting practices in order to cover-up corporate wrongdoing would jeopardize the financial interests of stockholders, corporate associates and partners, which would compel the SEC to step in.
If these characters resorted to cooking the books or use accounting procedures in order to fool shareholders---like misusing corporate reserve accounts, concealing losses, inflating asset values, improperly accounting for transactions, deferring losses into reserve accounts, improperly shifting capital funding-----stuff like that…..the SEC would be compelled to step in.
We need to know whether the co-conspirators are engaged in Enron-style accounting and spending practices.
Shareholders---and other interested parties---should contact the SEC here: enforcement@SEC.gov.
You are SO right! There are a lot of fingers in this pie!
The record bids at last year's "Winter Weekend" auction were $175,000 for a baseball signed by Cuba President Fidel Castro and President Carter during his historic trip to Cuba in May 2002...
The American taxpayer is getting ripped off by all of there so-call "nonprofits". The nonprofit laws should not allow Abe Foxman with the Anti-Defamation League to make $400K+ a year. Or for Consumers Union ($197,000,000 in assets) to mail their magazine Consumers Reports for special postal discounts.
A good spot to background nonprofits is guidestar.org For example, they show that Consumers Union paid the fellow that runs it, James Guest, $419,470 last year in salary and $84,547 to his employee benefit plan. And these numbers do not include expenses. "Charity work" is profitable. Good work if you can get is. Ask Jesse jackson and Al Sharpton.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.