Boehm: Where is Obama Foundation Money Going?

Last night, I discussed our request for an IRS investigation of the Barack H. Obama Foundation with Eric Bolling on his Follow the Money show on Fox Business Network. Here’s a transcript:

Eric Bolling: The President’s half brother, Abon’go Obama might get to be as famous as the chief. Abon’go runs the Barack H. Obama Foundation. The charity which claims to tax exempt and nonprofit, but there is no proof of any of that. Ken Boehm, co-founder of the National Legal and Policy Center has asked the IRS to investigate. So far no one really knows where seven hundred thousand dollars has gone. Ken is here with us today. Thank you Ken. Ken, you have six questions you want the IRS to answer regarding this charity, is that right?

Ken Boehm: Right, we want to know, first of all, how much money was raised? We don’t know because they haven’t been filing any reports. This is a textbook example of an off-the-books charity.

Eric Bolling: What else is important to you? How much money is raised? How about use of funds?

Ken Boehm: Well, use of funds, if the funds aren’t being used for a charitable purpose or if somebody is pocketing them then obviously there are quite a few other legal issues. We don’t know that. Again, the main issue here though is in soliciting funds, this thing has been in operation for three years, has an internet page, takes credit cards, takes Paypal and takes mailed in donations. It assured potential donors that it had what’s called 501(c)(3) status, which is tax deductible status under the IRS and we checked and double checked it not only does it not have that, it never had it. And one of their directors has now admitted that publicly.

Eric Bolling: And Ken I guess raising funds within the United States and so they need IRS approval to even contact, post on web sites that are accessible by the U.S. is that right?

Ken Boehm: Right, what you can’t say to the donors if you make a donation to us it is tax deductible when you know for a fact that it’s not.

Eric Bolling: Well, you can’t if they’re not donors in America? If you want to?

Ken Boehm: Other countries have other laws, but their website was here, their post office, it wasn’t a post office box. It was a commercial mail drop was in Arlington, Virginia. If you’re soliciting money in the United States, you can’t tell people you are a tax-exempt.

Eric Bolling: Before I bring it out to the panel, I want to ask you really quickly, the Barack H. Obama Foundation – the name, the title? Are you ok with that or is there some sort of misleading aspect to it?

Ken Boehm: Well, it is named after Abon’go’s father who was the same father as President Obama’s father and his name was Barack H. Obama. They set it up during the early part of 2008 when President Obama was running for president and they certainly seemed to have benefited over the years. They’re still raising money.

Eric Bolling: Hang in there, Ken. Hang in there. I want to get it out to the panel before we run out of time here. Go ahead, Joey. Let me guess it doesn’t matter.

Joe Jackson: No, a couple of things. First of all, I hope that he puts, Ken that is, as much time and effort into investigating the oil companies as he does this corporation that’s number one to find out what they are doing to the American public. More so than that, I’m glad you clarified, Eric, kudos to you. This is named after the president’s father. Barack Obama is not his brother’s keeper. We all may have rogue family members who think two things to capitalize on what we do. This is no reflection on the President, no reflection on his policies, no reflection on the honest person that he is and the great leader that he is for this country period.

Andrea Tantaros: If I started a web site, the Joseph L. Jackson Foundation, which I believe was that Michael Jackson’s dad? If I use your name too, do really think I’m going to be able to get away with it when I’m claiming 501(c)(3) status?

Joe Jackson: Oh no, I don’t think he should be able to get away with it. I think if there’s something amiss, he should be prosecuted to the full extent of the law, but to suggest that this has anything to do with is most unfortunate and most misleading.

Andrea Tantaros: Well, first of all, if I’m Barack Obama, I want this shut down now. It was 2008 when it started. It is now 2011. This could be a liability.

Eric Bolling: Before we get to Kevin, so you said no, that can’t go on if there’s any funny going on you said? Is the IRS is going to go after the president’s half brother?

Joe Jackson: I think the IRS needs to go after look everybody is equal in the eyes of the law. Whoever is responsible should be prosecuted, but the President has a few other more important things to do.

Kevin McCullough: Well I just – I want Joey, Andrea and Eric to all to contribute to the LeBron James Foundation that I just started over the last break. The thing that we’ve got going on here is a real simple test of does it meet the legal standard or doesn’t it? If it doesn’t, prosecute it and be done with it. The fact that the IRS is the one that’s left to prosecute this though has me a little bit cynical that we will ever see anything happen.

Eric Bolling: I want to go back to Ken in one second, but I’ll read the statement from the IRS, quote, “We are not permitted by law to comment on specific stories or cases.” But Ken, what do you think? Do you think this case is going to get opened?

Ken Boehm: We will see. We will see. They are not even allowed to tell us if they have opened it or not. We are also filing a complaint with the postal service because they were soliciting contributions by mail and as a former prosecutor; I can tell you when you facilitate a crime by mail that is a separate criminal crime.

Eric Bolling: What about the White House, have you solicited a response from them?

Ken Boehm: The New York Post did the story and they asked the White House and the White House did not get back to them.

Eric Bolling: All right, we’re going to leave it there. Thanks to Ken Boehm for being here today. Up next…

Related:

IRS Asked to Investigate Charity Run by Obama’s Brother