Posted on 09/21/2005 5:54:03 AM PDT by Pharmboy
September 21, 2005 -- The embattled Gloria Wise Boys & Girls Club in The Bronx — under investigation for taking $875,000 from programs for kids to help fund the start-up of Air America radio — was booted yesterday from the Boys & Girls Clubs of America. The national board of the Boys & Girls Clubs voted to yank Gloria Wise's charter, barring them from using the much-heralded organization's symbols and fund-raising clout because of a breach of ethical standards and failing to file audits.
Evan McElroy, a spokesman for the national organization, said officers at Gloria Wise had ignored repeated requests to file annual financial reports. "We gave them plenty of chances," he said.
"Our clubs are run according to ethical business practices that were, in the view of our board, breached," McElroy said of the Gloria Wise club based in Co-op City
(Excerpt) Read more at nypost.com ...
Several additional points:
-Earlier news reports indicate the $875,000 was earmarked money from the City of New York that was to be spent on programs for underprivileged children and Alzheimer's victims. Hence, it's really a lot worse than if they just had the money lying around.
-Your point about there probably being a giant UN style, rat's nest there is well taken. According to the posted article, one of the reasons the Gloria Wise charter was revoked was Gloria Wise's repeated failure to comply with the National Boys and Girls Clubs audit rules. That means there has to be a great deal more than just this $875,000 embezzlement.
-As I've said in other posts, the idea that the $875,000 was a loan is ludicrous. Any organization, be it a bank, nonprofit economic development organization, or government agency, that makes a proper loan in the ordinary course of business generates a number of documents supporting the loan, which usually include a promissory note at a certain rate of interest, security agreements, a loan application, and personal guarantees of the loan by the principals of the borrower. Not a single article on this whole scandal has indicated that any of the foregoing documents was contemporaneously created and executed. Hence, the inescapable conclusion is that Evan Cohen, Air America's chairman and Gloria Wise's development director and Rosen, one of the leading officials of Gloria Wise, conspired to embezzle the $875,000 from Gloria Wise and transfer it to Air America. All the later characterizations of the transaction as a "loan" are simply an effort to conceal the crime that occurred.
-If Gloria Wise goes bankrupt, as it should, its trustee in bankruptcy should sue Air America, Piquant, LLC, and their principals for a lot more than just the $875,000. The amounts legitimately claimed could well include interest on the $875,000, compensatory damages for Gloria Wise due to the damage caused to it and its "business" by the embezzlement conspiracy, and punitive damages. A reasonably imaginative lawyer could probably come up with a lot more.
He's a Dem politician. Think he is going to bite the hand that feeds him? Not hardly.
Thanks again for the data and analysis. Given that both Air America and this Gloria Wise "charity" are probably both liberal nests of corruption, it will be fun to see them cannibalize each other!
But then this is assuming that anyone in the charity has the balls/stupidity to go to war. More likely than not they will brush it under the rug as it will expose them too much, and hurt their collective image.
I'll go you one farther; while you predict an IRS audit, I predict a back office fire, kind of like Al Sharpton around campaign time.
Kind of a "Blame the Victim" slant to this article. Air America is the one that approached them for the money.
Yeah you are right. We should be selling contracts on this on tradesports.com . I would love to be able to make money on the liberals' stupidity/predictability.
Rush is on a roll today. He had the following story about Clinton and found John Tierney's OpEd online, giving the new title. I went looking on Google for Tierney in syndication, but I couldn't find it.
Clinton: Why high oil prices are good thing
Democratic Underground - Clinton: Why High Oil Prices Are Good Thing Apparently, that's the rest of the article. Now go was your hands, mouse and keyboard.
Let Wal-Mart take over emergency management
From time to time, I’ll ping on noteworthy articles about politics, foreign and military affairs. FReepmail me if you want on or off my list.
Isn't it the case that any person can walk into the home office of a 501(c)(3) and request to see their financial records?
You may be referring to Elliot Spitzer, he is the NYS Attorney General, the DA you might also be referring to is Morgenthou, but he won't be touching this.
Air America continues to be a loss leader in talk radio around the nation with the latest data.
http://radioequalizer.blogspot.com/2005/09/summer-ratings-trends-released-for-key.html
Thanks for the link. It looks like the end of Al Frankenstein and Janeane Gawdawfullo.
That just makes for a double helping of schadenfreude then, doesn't it?
I love the smell of schadenfreude in the afternoon.
They will be around for a long time as the MSM will never tell the truth about them.
Nor will the rat NY AG Spitzball file charges against them.
Amazing that Bloomberg takes a strong stand against Judge Roberts and has ignored this stealing from the NY's poor children.
Checked again just now. This is still news to the New York Times.
It's not bias, though... after all, I'm sure that if Rush Limbaugh got caught stealing nearly a million dollars from poor inner city kids, the NYT would have spiked that story too.
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