Monday, November 23, 2015

Unfounded Trust Leads To Hundreds Of Thousands of Lost Charity Dollars

by Gary Snyder

The unpaid president of three different nonprofit foundations purportedly embezzled from foundation accounts used to fund church programs providing housing assistance, re-entry services, child care and job training.

At the time of his arrest in April 2014, he had been AC Transit's chief financial officer for six years, collecting a $225,000 annual salary.

He is not suspected of any financial misdoing at AC Transit, which conducts thrice-yearly audits.

Lewis Clinton was a well-respected member of the finance world and the spiritual community before board members became suspicious that there might be financial impropriety when it was unable to make payroll and excessive ATM withdrawals and debit purchases were discovered, according to preliminary hearing testimony. He is accused of embezzling $527,000 in checks and cashiers checks from one foundation's credit union account, and another $60,000 to $70,000 in ATM withdrawals and debit card purchases from a Wells Fargo account.

Clinton used the stolen funds on a country club membership, private school tuition, luxury cars and vacations, according to testimony. Also without authority, he started paying himself a salary. (source) 








Nonprofit Imperative gathers its information principally from public documents...some of which are directly quoted. Virtually all cited are in some phase of criminal proceedings; some have not been charged, however. Cites in various media: Featured in print, broadcast, and online media outlets, including: Charity Navigator, Vermont Public Radio, Miami Herald, National Public Radio (NPR), Huffington Post, The Sun News, Atlanta Journal Constitution, Wall Street Journal (Profile, News and Photos), “Betrayal”, (a movie), NBC (on Charity Fraud…TBD), FOX2, ABC Spotlight on the News, WWJ Radio, Marie Claire, Ethics World, Aspen Philanthropy Newsletter, Harvard Business Review, Current Affairs, Charity Navigator, The Chronicle of Philanthropy, St. Petersburg Times, Board Room Insider, USA Today Topics, Accountants News, Newsweek.com, Responsive Philanthropy Magazine, New York Times, Portfolio Magazine, The Virgin Islands Daily News, NANKAI (China) BUSINESS REVIEW, National Religious Broadcasters newsletter, The Charity Governance Blog, American Chronicle, Palm Beach Post, Detroit Free Press, Oakland Press, Nonprofit World, Socially Responsible Business Forum, PNNOnline, Ohio Nonprofit Resources, Nonprofit Good Practice Guide, Nonprofit Startup Guide, Nonprofit Blog, National Coalition of Homeless Newsletter, Finance and Administration Roundtable Newsletter, MichiganNonprofit.com, CORP! Magazine, Crain’s Michigan Nonprofit, ncrp.org, PhilanTopic, Nashville Free Press, Nonprofit Law Blog, Seniors World Chronicle, Carnegie Reporter, Assoc. of Certified Fraud Examiners Examiner, msnbc.com, Worchester (MA) Telegram and Gazette, Carnegie Corporation of America, EO Tax Journal, Wikipedia: Non-profit Organizations; Parent: Wise Austin, Accountants News, Veterans Today, Answers.com, Far-roundtable, #Nonprofit Report, nonprofithelpnews, nonprofit news; National Enquirer, Northwest Herald, The HelpWise Daily, The #Nonprofit Report, Wikipedia (Nonprofit Organization), Answers.com, Nonprofits: On the Brink (2006) Silence: The Impending Threat to the Charitable Sector (2011)
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