Wednesday, August 17, 2016

The Wolf Of Malaysia

Leo the con man?
While the complaint does not target DiCaprio — he's referred to twice in the 136-page document and only as "Hollywood Actor 1" — the scandal shines an unfamiliar light on the charitable foundation of the most powerful actor in Hollywood thanks to the way the LDF has benefited directly from DiCaprio's relationship with key figures in the saga. And much like the gala in St. Tropez, with its expressions of one-percenter excess ostensibly in support of saving the environment (guests helicoptering in to dine on whole sea bass after watching a short film about the dangers of overfishing), a closer look at the LDF itself raises questions about its ties to the 1MDB players as well as the lack of transparency often required (or offered in this case) for the specific structure the actor has chosen for his endeavor.
Set up not as a nonprofit but instead as a donor-advised fund (DAF) attached to the California Community Foundation, which is a nonprofit, the LDF therefore is not required to file itemized public disclosures about its own revenue, expenditures and disbursements. "It's difficult to characterize the giving of the DiCaprio Foundation because its status as part of the CCF makes it impossible to look at its finances," industry trade journal Inside Philanthropy noted in 2015.
Liberal hypocrites and their money aren't so easily parted...

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