Screen Shot 2015-06-22 at 11.42.17 AMThe Clinton Foundation, Hillary and Bill’s pet non-profit, might be one of the most illegitimate NPO’s on the face of the earth.

Especially if what’s being said about the organization’s tax exempt status turns out to be true.

According to Wall Street analyst Charles Ortel, the various (newly added) components comprising the Clinton Foundation were never verified as being legitimate tax-exempt organizations.

He maintains one of the biggest and most notable accounting firms PricewaterhosueCoopers didn’t even bother to verify if the Clinton foundation had received its tax exempt status from the IRS.

As WND writes:

He says [accounting firm] PWC (PricewaterhosuCoopers) neglected to exercise due diligence in fulfilling its professional responsibilities in conducting even the most basic inquiries required of an honest audit.

PWC, he says, failed to inquire whether the Clinton Foundation has applied for and received duly issued IRS tax-exempt determinations for its various sub-entities and activities, including fighting HIV/AIDS globally under the auspices of the Clinton Health Access Initiative Inc., also known as CHAI.

One can see why this might be a problem.

The Clinton Foundation has been used by the Clinton’s to serve as a vehicle for some serious money making.

Ortel claims the Clintons have used the Clinton foundation to divert tens of millions of dollars to line their own pockets as well as to help oil the political machine.

According to World Net Dail “Ortel documents “each material deficiency in appropriate detail,” but he also poses an important preliminary question: ‘Did PWC, as part of its 2013 audit, establish that under applicable laws and regulations that the Clinton Foundation, including its various sub-entities and numerous charitable endeavors, many of which have been foreign based, is duly constituted as a tax-exempt organization?'”

One thing we do know is when the Clinton Foundation was first founded in 2001 the primary purpose was to persevere the Clinton Library.

It was only after they added on various other initiatives did it seem problematic they hadn’t received the appropriate tax exempt status necessary to operate problem free.

As WND writes.

Ortell notes that there as an “Old CHAI” and a “New CHAI” that was created after Hillary Clinton became secretary Aof state. In addition, the foundation launched the Clinton Global Initiative and numerous foreign funds and endowments created, for instance, in conjunction with George W. Bush to raise money for the victims of Hurricane Katrina in 2005 and the 2010 earthquake in Haiti.

This is only compounded by the fact the Clinton Foundations recent filings were riddled with with errors and misstatements.

So what does this mean? “Ortel says is The Clinton’s “Never authorized to engage in what has become, by far, its largest activity, then the balance of this memorandum deals with significant accounting issues that pale in comparison to legal perils that directors, management and donors to the Clinton Foundation must soon face.”

That sounds like bad news for the Clintons.