Washington, D.C. Attorney General Brian Schwalb has subpoenaed records from Arabella Advisors and the network of liberal organizations it controls as part of an investigation into reports alleging tax violations, the Washington Free Beacon reported Tuesday. .
Mr. Schwalb is seeking records that would reveal whether Arabella illegally profited from New Venture Fund, a nonprofit organization he controls. according to To the free beacon. The attorney general also said that New Venture Fund is using its philanthropic funds to help secure Democracy, a 501(c)(4) nonprofit that urged lawmakers to expand mail-in voting in 2020 and 2021. It issued subpoenas in connection with a report it said directed partisan activities. according to To the free beacon.
Also, what is being investigated is north fund And that Six Thirty FundBoth were funded by liberal activists under Arabella’s control, according to Influence Watch.
According to Influence Watch, North Fund has spent millions of dollars promoting pro-abortion, anti-Electoral College and groups intent on expanding the Supreme Court. Additionally, in 2022, he donated $4.1 million to Somos PAC, which worked to elect the Democratic Party.
The Sixteen Thirty Foundation similarly works to promote liberal causes, according to Influence Watch. According to Influence Watch, the group spent millions of dollars trying to defeat Donald Trump in the 2020 presidential election and is running liberal groups as a project. (Related: Left-wing black-finance giant founder slapped with IRS charges)
The Internal Revenue Service (IRS) had concerns as far back as 2006 that Arabella may have illegally withdrawn profits from its new venture fund, Free Beacon. report.
(Screenshot/YouTube/Aspen Institute)
The Free Beacon reported that the IRS inquired about New Venture Fund’s lack of competitive bids for management services before signing the management contract with Arabella. Those concerns were allayed when New Venture Fund announced that Arabella’s contract would expire in a year.
New Venture Fund’s relationship with Arabella continued beyond what it told the IRS, the Free Beacon reported. The nonprofit has paid Arabella her $230 million for management services since 2006. raised Billions of dollars have been donated, according to the Free Beacon.
The D.C. attorney general is also investigating conservative legal activist Leonard Leo and his nonprofit network. according to Go to Politico.leo Said Axios announced in 2020 that its network of nonprofits drew inspiration from Arabella’s network.
Spokespeople for New Venture Fund, Arabella Advisors and Sixteen Thirty Fund told the Daily Caller News Foundation that they were following the attorney general’s instructions and did not violate any laws.
A spokesperson for Arabella Advisors told DCNF that the organization is “confident in the systems we have in place to ensure our operations comply with regulatory requirements.” Told.
The Washington, D.C. attorney general’s office did not respond to a request for comment.
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