Trudeau Foundation to receive audit into purchase of Chinese stocks using taxpayer funds

https://www.rebelnews.com/trudeau_foundation_to_receive_audit_into_purchase_of_chinese_stocks_using_taxpayer_funds

'We had two investments,' said Foundation chair Edward Johnson at a June 8 hearing. Their China portfolio included shares in Tencent Holdings Limited, a Shenzhen video game maker, and software company Baidu.com.

The controversial Pierre Elliott Trudeau Foundation will receive a federal audit soon into the appropriateness of purchasing stocks in China with taxpayer dues.

On September 21, the Commons public accounts committee by a unanimous 10-0 vote ordered the Auditor General to investigate a taxpayers’ endowment used to bankroll the Foundation, reported Blacklock’s Reporter.

Parliament in 2002 awarded $125 million to the Foundation by then-Prime Minister Jean Chretien, despite facing concerns by Opposition MPs on the funding.

“What is a more fitting legacy to the man who symbolized youth, excellence and the innovative spirit?” he said at the time of its disbursement.

“Access To Information does not apply to these foundations,” then-Canadian Alliance MP Val Meredith told a 2003 hearing of the Commons public accounts committee.

“We don’t have any control over what the agreement says, what they do with the money or whether they are spending it in the way it is supposed to be spent,” he said then.