jimnyc
10-26-2016, 05:52 PM
Clinton Aide’s Memo Details Ties Between Consulting Firm and Clinton Foundation
The overlap between Hillary Clinton’s State Department, her family’s foundation, and a consulting firm run by members of her inner circle has reaped a windfall for all involved, steering tens of millions of dollars to the Clinton family and generating lucrative contracts for a consulting practice run by a close confidante, an internal memo reveals.
The 2011 memo, authored by Clinton confidante Doug Band, reveals for the first time the precise financial flows between the Bill, Hillary, and Chelsea Clinton Foundation, Band’s firm Teneo Consulting, and the Clinton family’s private business endeavors.
The Band memo also provides additional details on the specific relationships between his consulting clients, which include multinational corporations and deep-pocketed foundations, and the Clinton family’s business and charitable efforts.
Band sent the memo to Clinton campaign chairman John Podesta, then the president of the left-wing Center for American Progress, in a November 2011 email. It was one of thousands released by Wikileaks after hackers believed to be acting in concert with the Russian government breached Podesta’s email account.
At the time the memo was written, Bill Clinton had four existing business “arrangements,” Band wrote. “We secured all of them; and, we have helped manage and maintain all of his for-profit business relationships.”
Since 2001, those relationships netted “more than $30 million for him personally, with $66 million to be paid out over the next nine years,” Band wrote.
Teneo’s work on behalf of the former president included arranging paid speeches at major multinational companies. With the help of Teneo co-founder Declan Kelly, the firm arranged speeches at UBS, Ericson, BHP Billiton, and Barclays that together earned the former president more than $2.5 million.
Ericson also chipped in another $400,000 to cover the cost of a private jet, Band revealed.
Kelly’s involvement with Teneo has recently come under scrutiny due to his overlapping roles at Clinton’s State Department, where he served as an envoy to his native Ireland, and his consulting work for a firm that would later be absorbed by Teneo.
According to an April report in Politico, Clinton’s State Department expanded the use of a designation known as “special government employees” in order to employ Kelly in a role that allowed him to continue operating a private consulting business, and working on behalf of clients that might be affected by State Department policy, while he served in an official government capacity.
When Kelly left his State post in 2011, he and Band co-founded Teneo, which took over work for Kelly’s three existing clients: UBS, Coca-Cola, and Dow Chemical.
Those companies were already donors to the Clinton Foundation, but Band and Kelly worked to dramatically scale up their financial commitments.
“Cognizant of the Foundation’s significant fundraising needs as well my role as the primary fundraiser for the Foundation for the past 11 years, as a partner in Teneo, Mr. Kelley [sic] and I have asked and encouraged our clients to contribute to the Foundation,” Band wrote.
“The foundation donors require significant maintenance to keep them engaged and supportive of the foundation,” he added. “We have sought to make that the case.”
According to Band’s memo, 11 of the firm’s clients have donated six- or seven-figure sums to the foundation.
Rest here - http://freebeacon.com/politics/clinton-aides-memo-details-ties-consulting-firm-clinton-foundation/
The overlap between Hillary Clinton’s State Department, her family’s foundation, and a consulting firm run by members of her inner circle has reaped a windfall for all involved, steering tens of millions of dollars to the Clinton family and generating lucrative contracts for a consulting practice run by a close confidante, an internal memo reveals.
The 2011 memo, authored by Clinton confidante Doug Band, reveals for the first time the precise financial flows between the Bill, Hillary, and Chelsea Clinton Foundation, Band’s firm Teneo Consulting, and the Clinton family’s private business endeavors.
The Band memo also provides additional details on the specific relationships between his consulting clients, which include multinational corporations and deep-pocketed foundations, and the Clinton family’s business and charitable efforts.
Band sent the memo to Clinton campaign chairman John Podesta, then the president of the left-wing Center for American Progress, in a November 2011 email. It was one of thousands released by Wikileaks after hackers believed to be acting in concert with the Russian government breached Podesta’s email account.
At the time the memo was written, Bill Clinton had four existing business “arrangements,” Band wrote. “We secured all of them; and, we have helped manage and maintain all of his for-profit business relationships.”
Since 2001, those relationships netted “more than $30 million for him personally, with $66 million to be paid out over the next nine years,” Band wrote.
Teneo’s work on behalf of the former president included arranging paid speeches at major multinational companies. With the help of Teneo co-founder Declan Kelly, the firm arranged speeches at UBS, Ericson, BHP Billiton, and Barclays that together earned the former president more than $2.5 million.
Ericson also chipped in another $400,000 to cover the cost of a private jet, Band revealed.
Kelly’s involvement with Teneo has recently come under scrutiny due to his overlapping roles at Clinton’s State Department, where he served as an envoy to his native Ireland, and his consulting work for a firm that would later be absorbed by Teneo.
According to an April report in Politico, Clinton’s State Department expanded the use of a designation known as “special government employees” in order to employ Kelly in a role that allowed him to continue operating a private consulting business, and working on behalf of clients that might be affected by State Department policy, while he served in an official government capacity.
When Kelly left his State post in 2011, he and Band co-founded Teneo, which took over work for Kelly’s three existing clients: UBS, Coca-Cola, and Dow Chemical.
Those companies were already donors to the Clinton Foundation, but Band and Kelly worked to dramatically scale up their financial commitments.
“Cognizant of the Foundation’s significant fundraising needs as well my role as the primary fundraiser for the Foundation for the past 11 years, as a partner in Teneo, Mr. Kelley [sic] and I have asked and encouraged our clients to contribute to the Foundation,” Band wrote.
“The foundation donors require significant maintenance to keep them engaged and supportive of the foundation,” he added. “We have sought to make that the case.”
According to Band’s memo, 11 of the firm’s clients have donated six- or seven-figure sums to the foundation.
Rest here - http://freebeacon.com/politics/clinton-aides-memo-details-ties-consulting-firm-clinton-foundation/