Colombia: Clinton’s Access Fund UPDATED

Yesterday during Ed’s podcast I mentioned the Fondo Acceso, which translates to Access Fund.

What is the Fondo Acceso?

The Fondo Accesso is the Clinton Foundation’s Colombia-based investment company, run from the Clinton Foundation’s Bogota office, and (emphasis added)

registered as a “simplified stock corporation,” which legal experts said precludes it from doing business as a private equity fund.
. . .
Fondo Acceso was founded in 2010 by Bill Clinton, the Mexican billionaire Carlos Slim, and the Canadian mining magnate Frank Giustra. The Clinton Foundation and the SLIM Foundation committed $10 million each to the fund.

The Clinton Foundation is a 50 percent shareholder in the company, according to its tax records. Numerous Clinton Foundation and Clinton-Giustra Enterprise Partnership officials are listed as Fondo Acceso directors in Colombian corporate filings.
. . .
The Clinton Foundation and CGEP have declined to release a full list of Fondo Acceso’s investments.

Timeline:
2008: Hillary Clinton campaigns for president, is against the Colombia Free Trade Agreement.
2009: Hillary Clinton becomes Secretary of State. She starts lobbying members of Congress for approval of the CFTA, as revealed on emails released on February 2016.
2010: Bill Clinton, Carlos Slim, and Frank Giustra (who pledged $100million to the Foundation) open Fondo Acceso. Previously,

In June 2005, Gold Service International, a South American business group, paid Bill Clinton $800,000 to deliver four speeches in South America. Gold Service was pushing for the free trade agreement, which would help boost Colombian exports to the United States, and Clinton was supportive of the policy.

2011: The CFTA is approved, becomes effective on May 2012.
2012: FARC-Colombian government negotiations open in Havana.
2013: Hillary’s term as Secretary of State ends.

UPDATE:
Frank Giustra, The Billionaire Whose Clinton Foundation Ties Could Be Trouble for Hillary Clinton h/t JC, emphasis added)

A similar situation had unfolded in Kazakhstan in 2005. Giustra and Clinton jetted in to dine with the country’s authoritarian president, Nursultan Nazarbayev. Days later, Giustra’s mining company signed an agreement giving it stakes in three state-run uranium mines in addition to those it controlled in the U.S. After a $3.5 billion merger, the company was eventually acquired by the Russian atomic energy agency, Rosatom. Because uranium is a strategic asset, the sale required (and received) approval from multiple U.S. agencies, including the Department of State, then run by Hillary Clinton.

Giustra insists these deals were on the up-and-up and Bill Clinton played no role. “He’s shown up in two places where I’ve done business,” he says, “but I’ve traveled to countless countries around the world with him and put money into [charitable] programs in places I have zero business interests in.” While Giustra hasn’t done charity work in Kazakhstan, he says a deal of that scale is hashed out over many months and didn’t require Nazarbayev’s permission. He adds that he sold his stake in the uranium mining company two years before Hillary Clinton became secretary of state, and he agreed to share documents with Bloomberg Businessweek that would prove this, although a week later he hadn’t produced them.

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Speaking of PowerLine, don’t miss MEMO SHEDS NEW LIGHT ON CLINTON-RUSSIA URANIUM SCANDAL

Who were the winners in the transactions that began with Bill Clinton’s visit to Kazakhstan and ended when the U.S. approved the Uranium One-Rosatom deal? The Russians, obviously, but not just them.

Frank Giustra won big. So did the Clintons who raised tens of millions, if not more, in this saga. Even Kazakhstan came away with something, though whether it contemplated Russia controlling its uranium is another matter.

Only America is the loser.

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