Clinton Foundation Scandal Could Doom Laureate University IPO
This is the Clinton higher education scandal that no one in media is covering.
The Daily Caller reports.
EXCLUSIVE: Clinton Ties Could Doom For-Profit Laureate University’s IPO
Reports of faulty corporate record keeping and links to the growing controversy over allegations of Clinton Foundation “pay-to-play” schemes could doom the pending initial public offering (IPO) of the for-profit Laureate Education university, according to a Daily Caller News Foundation investigation.
Billionaire George Soros, Microsoft co-founder Paul Allen and private equity investor Henry Kravis all financially back Laureate. The company paid former President Bill Clinton nearly $16.5 million as honorary chancellor from 2010 to 2015.
Laureate officials are trying to raise $1 billion in the IPO and told potential investors in a May 26, 2016, Securities and Exchange Commission (SEC) filing update the company’s financial statements may be inaccurate and unreliable, after uncovering “five material weaknesses in our internal control over financial reporting.”
Clinton’s tenure partially coincided with the period of Laureate’s inaccurate corporate reports, at least one of which remains unremedied. The company is trying to get out from under a crushing $4.8 billion debt load. A successful public offering would provide significant financial relief to Soros, Allen, Kravis and other Laureate investors. It’s unclear, however, if Laureate could survive a failed IPO.
EXCLUSIVE: Clinton Ties Could Doom For-Profit Laureate University’s IPO (The Daily Caller)