Donations to the Clinton Foundation by Swiss bank UBS increased tenfold after Hillary Clinton intervened to settle a dispute with the IRS early in her tenure as secretary of state, according to a published report.
According to the Wall Street Journal, total donations by UBS to the foundation grew from less than $60,000 at the end of 2008 to approximately $600,000 by the end of 2014. The Journal reports that the bank also lent $32 million through entrepreneurship and inner-city loan programs it launched in association with the foundation, while paying former President Bill Clinton $1.5 million to participate in a series of corporate question-and-answer sessions with UBS Chief Executive Bob McCann.
Though there is no evidence of wrongdoing, ties between the Clinton Foundation, major corporations and foreign governments have come under increasing scrutiny as Hillary Clinton begins her presidential campaign. The UBS case is unusual in that it shows a top U.S. diplomat intervening on behalf of a major overseas bank in a situation where federal prosecutors and the Justice Department had been the lead entity.
Clinton, speaking to reporters on Thursday, called any suggestion the donations from UBS to the Clinton Foundation were connected to her intervention “categorically false.”
“It’s the kind of unfortunate claim or charge that you see in campaigns, and all I can do is say there is no basis to it,” she said.
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