Skip to comments.Bill Clinton profits from company tied to felon, China
Posted on 03/07/2008 12:43:15 PM PST by Daffynition
The spring before his wife began her White House campaign, former President Bill Clinton earned $700,000 for his foundation by selling stock that he had been given from an Internet search company that was co-founded by a convicted felon and backed by the Chinese government, public records show.
Mr. Clinton had gotten the nonpublicly traded stock from Accoona Corp. back in 2004 as a gift for giving a speech at a company event. He landed the windfall by selling the 200,000 shares to an undisclosed buyer in May 2006, commanding $3.50 a share at a time when the company was reporting millions of dollars of losses, according to interviews.
A spokesman for the William J. Clinton Foundation declined to identify the buyer who was willing to pay so much for a struggling company's stock, saying only that the transaction was handled by a securities broker. It occurred seven months before Sen. Hillary Rodham Clinton announced her bid to run for the 2008 Democratic presidential nomination.
The spokesman, Ben Yarrow, declined last week to say whether Mr. Clinton knew about the Chinese government's connection to Accoona or the felony fraud conviction of one of the company's founders.
"President Clinton gave a speech; he did not endorse a product," Mr. Yarrow said.
The $700,000 capital gains was listed on the tax returns of Mr. Clinton's foundation that were reviewed by The Washington Times.
The lack of disclosure about the buyer and the general activities of former presidents' foundations troubles some ethics experts.
(Excerpt) Read more at washingtontimes.com ...
So what has changed?... this is a daily occurance with the Clintons... Won’t see it reported in the MSM unless Obama starts bringing it up.....
Way, way beyond disgusting.
This is big.
NO SURPRISE that the communist in chief did business with the biggest communist country and gained big capitalist bucks
O come on, its not like he took money from the communist chinese army or anything-jeesh! /s
BTW-Did Loral, that company that donated all that money to clinton, ever find that missing guidance chip? The one that, when clinton changed the law and allowed them to send the technology to china for a missile launch, got lost in a crash? Weird how just after that chip went missing, China’s ICBMs gained better abilities to target our cities.
All just coincidence, it was all about sex. 20 million new jobs/100,000 new police, blah blah blah
Corruption? With the Clintons? I'm shocked.........
Somebody made a graph. ...I'll try to find it.
clinton China...a connection? I’m shocked
I agree. Unfortunately, Obama doesn't have the guts to bring it up.
Of course this will warrant a feature story by Katie Couric and an expose by the New York Times. (sarcasm)
20 years pass with no real private sector job.
2008: Clinton net worth of $100 million to $200 million.
Never a single media investigation. Never even the slightest interest. Complete 100% media cover-up.
I’m so sick of the smarmy people. What will it take to make them go away.
I bet that no matter what the story says...the Clintons themselves are starting to leak this kind of stuff out in anticipation of someday releasing Madame Hillary’s tax return.,p>
Better to get the dirt out in bits than in one lump of you know what.
The Clinton’s must think they are immortal.
Lies, lies, lies the leader of the most ethical and sexually satisfied administration would not do that.
Note the key word "foundation".
This is how its done these days.
The toughest part of being an ex-president is laundering your money into public view so you can get access to it without having to answer embarrassing questions about where it came from. Its not necessary to launder it all, you certainly don't want to mess with the underlying assets and investments, but you need to launder that part of the proceeds that you need access to.
So you give 20 minute speechettes and pay yourself half a million a pop (yeah, right, someone wants your opinion so badly that he pays you hundreds of thousands to save himself from the trouble of clicking on google). You write books no one reads (actually, you pay someone else to write it) and even if you have to give the publisher a piece of the action, who cares?
You set up trusts and think tanks and institutes and foundations. You don't go after other ex-presidents when you are president, and hope future presidents will pay you the same courtesy as long as you don't make it too obvious.
Why would anyone pay a bribe to an ex-president? They wouldn't. The money was paid years ago. The problem is getting access to it.
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