Don't Obama and Holder Care About Pension Fund Fraud at SEIU and ACORN? - The American Spectator | USA News and Politics
Don’t Obama and Holder Care About Pension Fund Fraud at SEIU and ACORN?

As far as I know there has never been a criminal investigation of the multiple counts of possible pension fraud committed at ACORN, at least not at the federal level.

As I report in my new book Subversion Inc.: How Obama’s ACORN Red Shirts are Still Terrorizing and Ripping Off American Taxpayers, details of the pension fund funny business appeared in a legal memo prepared by Elizabeth Kingsley of Harmon, Curran, Spielberg Eisenberg LLP, a Washington, D.C. law firm that caters to far-left groups.

The memo to ACORN was dated June 19, 2008, the day before ACORN’s national board fired disgraced founder Wade Rathke. Rathke’s little brother Dale had stolen close to a million dollars from ACORN around 2000 while in charge of its finances. Despite the theft, Wade kept Dale on the ACORN payroll for another eight years.

Kingley’s memo indicated that ACORN’s pension funds were dipped into or moved around as a result of the embezzlement.

This is a huge no-no. Pension funds are governed by strict rules. Employers cannot normally borrow from such funds, move them around, or tinker with them in any way. Without such strong legal protections, workers’ life savings might be at risk.

Republican investigators on the House Oversight and Government Reform Committee also found that “ACORN plundered employee benefits and violated fiduciary responsibilities under ERISA by relieving corporate debts through prohibited loans to a related party.”

They added that SEIU Local 100 “under the direction of ACORN founder Wade Rathke – filed bogus reports with the Labor Department in order to conceal [the] embezzlement.”

Well, Mr. President and Mr. Attorney General?

(Buy the book at Amazon. Visit the Subversion Inc. Facebook page. Follow me on Twitter.) 

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