Two Bill Clinton cronies used their private consulting firm to steer millions in business to the former president while raising funds for the Clinton Foundation — and even called the arrangement “Bill Clinton Inc.”
Doug Band, a top Clinton aide, detailed the complex financial arrangement between his company, Teneo, and the foundation in a memo contained in hacked e-mails released Wednesday by WikiLeaks.
“Teneo partners have raised in excess of $8 million for the foundation, more than $5.25 million of which is in the bank,” the memo reads.
“Teneo partners also have generated over $3 million in paid speeches for President Clinton, $1.25 million of which has been paid to him thus far.”
The consulting company was formed by Band and former State Department envoy Declan Kelly. The memo about its activities shows the incestuous relationship between the foundation and the private business interests of the former president.
In one arrangement, Kelly introduced Bob McCann, the head of UBS Wealth Management, to Clinton at an event in 2009.
After the meeting, McCann donated hundreds of thousands to the foundation while inviting Clinton to give several paid speeches.
Another arrangement involved the Laureate Foundation, which donated more than $1 million to the Clinton Global Initiative.