The Clinton Foundation set up a $2 million commitment that benefited Energy Pioneer Solutions Inc., according to the WSJ
That company is owned in part by Clinton friends and Democratic donors
The Clinton Foundation is denying a Wall Street Journal report that alleged the organization steered money to a for-profit company partly owned by Clinton friends and Democratic donors.
Clinton Foundation spokesman Craig Minassian insisted Thursday that “absolutely” no laws were broken despite the Wall Street Journal’s suggestion that the foundation might have violated a federal law that tax-exempt non-profit organizations must act in the public interest and not in any private interest.
The Clinton Foundation set up a $2 million commitment in September 2010 that benefited Energy Pioneer Solutions Inc., according to the Journal. Energy Pioneer Solutions helps insulate homes to make them more energy-efficient and reduce the use of fossil fuels.
Julie Tauber McMahon, a close friend of former President Bill Clinton, owns a 29% stake in the company. Democratic National Committee treasurer Andrew Tobias and Democratic operative Mark Wiener each own 5%, according to The Wall Street Journal.
“President Clinton has established many friendships and professional connections throughout his career in public service. It is not surprising that many of the same people who have worked with him to make a difference and improve the world would continue their (work) through CGI,” Minassian, the foundation’s spokesman, said in a statement to CNN.
Minassian further accused the Journal of recycling “tabloid gossip” and said the article “ignored the facts about CGI’s model, President Clinton and CGI’s commitment to combating climate change, and how impact investment works.”
“Many for-profit companies are addressing climate change through CGI and helping reduce dependency on fossil fuels,” he added.
The report comes as Hillary Clinton, the Democratic presidential front-runner, continues to swat away allegations of impropriety related to the Clinton Foundation and her use of emails during her time as secretary of state.