Leaked Memo Exposes Shady Dealings Between Clinton Foundation Donors And Bill's "For-Profit" Activities

Tyler Durden's picture

We have written frequently in recent weeks about a feud that erupted between Chelsea Clinton and Doug Band back in 2011 after Chelsea raised concerns about potential conflicts of interest between Band's firm, Teneo, the Clinton Foundation and the State Department (see here, here, here and here).  The feud ultimately resulted in Band being forced to draft a memo spelling out, in vivid detail, the many entangled relationships between himself, Teneo, the Clinton Foundation and the State Department.  Fortunately, today's Wikileaks dump included that memo which reveals, for the first time, the precise financial flows between the Clinton Foundation, Band’s firm Teneo Consulting, and the Clinton family’s private business endeavors.

The memo starts with a brief background on Teneo, which was created in June 2011, shortly after Declan Kelly resigned from his position as "United States Economic Envoy to Northern Ireland," a position to which he was appointed by Secretary Clinton.

In June 2009, DK Consulting was founded by Declan Kelley.   Mr. Kelly served as COO of FTI Consulting until June 2009, when he stepped down and established DK Consulting.  At that time, he also became the United States Economic Envoy to Northern Ireland.  Pursuant to the terms of his exit agreement with FTI and consistent with the ethics agreement of his uncompensated special government employee appointment at the State Department, Mr. Kelly retained and continued to provide services to three paying clients (Coke, Dow, and UBS) and one pro bono client (Allstate).  In late 2009, Declan retained me as a consultant to DK Consulting to help support the needs of these clients.


In May 2011, Mr. Kelly resigned his Envoy position at the State Department.  In June 2011, Mr. Kelly and I founded Teneo Strategies; simultaneously, Mr. Kelly closed DK Consulting and shifted its clients to Teneo.


Throughout the past almost 11 years since President Clinton left office, I have sought to leverage my activities, including my partner role at Teneo, to support and to raise funds for the Foundation. This memorandum strives to set forth how I have endeavored to support the Clinton Foundation and President Clinton personally.

In a subsequent section of the memo entitled "Leveraging Teneo For The Foundation," Band spells all of the donations he solicited from Teneo "clients" for the Clinton Foundation.  In all, there are roughly $14mm of donations listed with the largest contributors being Coca-Cola, Barclays, The Rockefeller Foundation and Laureate International Universities. 

Foundation Donations

Foundation Donations


The donations from Dow Chemical are particularly notable for several reasons.  First, because of other emails revealed by WikiLeaks and other FOIA requests, we now know that Dow Chemical CEO, Andrew Liveris, was granted special access to then Secretary Clinton back in July 2009 at the same time he was embroiled in ongoing litigation with another Clinton Foundation donor, Kuwait, over a failed joint-venture that would have netted Dow $9BN in cash.  As Band notes in his memo, 1 month after being granted special access to Secretary Clinton, Liveris invited President Clinton and Band out for a day of golf.  Moreover, shortly after his meeting with Secretary Clinton and golf outing with President Clinton, Liveris decided to donate $500,000 to the Clinton Global Initiative...very convenient timing for all involved.

In August of 2009, Mr. Kelly invited Mr. Liveris to play golf with President Clinton and me.   Mr. Kelly subsequently asked Dow to become a CGI sponsor at the $500,000 level, which they did, as well as making a $150,000 donation to the Foundation for President Clinton to attend a Dow dinner in Davos.

The story gets even more bizarre when Band reveals in the following footnote that Liveris provided the Dow Chemical plane to fly President Clinton and his staff from New York to California and then California to North Korea for their golf outing.  We would assume this is a simple typo by Band and/or he's just geographically challenged...if not, this certainly raises a whole other set of questions for Bill.

Mr. Liveris provided the Dow plane to fly President Clinton and his staff to and from California for our trip to, and from, North Korea.  As a private trip, the Foundation had to pay the costs of airfare; Mr. Liveris’ in kind contribution saved the Foundation in excess of $100,000.

According to the Dialy Caller, Dow Chemical paid Teneo $2.8 million in 2011 and $16 million in 2012 for a variety of "consultancy services".  Of course, Bill Clinton was an honorary chairman of Teneo and, as such, was set to be paid $3.5 million for that position even though he ultimately only kept $100,000 because of the scandals that erupted around the firm, including their advisory relationship with MF Global.

Finally, Band also offers the following commentary on the "$50 million in for-profit activity" he was able to secure for Bill Clinton (as of November 2011) as well as the "$66 million in future contracts, should he choose to continue with those engagements."

Independent of our fundraising and decision-making activities on behalf of the Foundation, we have dedicated ourselves to helping the President secure and engage in for-profit activities – including speeches, books, and advisory service engagements.  In that context, we have in effect served as agents, lawyers, managers and implementers to secure speaking, business and advisory service deals.  In support of the President’s for-profit activity, we also have solicited and obtained, as appropriate, in-kind services for the President and his family – for personal travel, hospitality, vacation and the like.  Neither Justin nor I are separately compensated for these activities (e.g., we do not receive a fee for, or percentage  of, the more than $50 million in for-profit activity we have personally helped to secure for President Clinton to date or the $66 million in future contracts, should he choose to continue with those engagements).


With respect to business deals for his advisory services, Justin and I found, developed and brought to President Clinton multiple arrangements for him to accept or reject. Of his current 4 arrangements, we secured all of them; and, we have helped manage and maintain all of his for-profit business relationships.  Since 2001, President Clinton’s business arrangements have yielded more than $30 million for him personally, with $66 million to be paid out over the next nine years should he choose to continue with the current engagements.

A big part of those "for-profit" activities was a $3.5mm annual payment from Laureate...

Foundation Donations

...and millions in speaking fees arranged by Band.

Foundation Donations


Confused? Here is a simpler recap from the NYT's Nick Confessore:


With that, we look forward to Donna Brazile's explanation of how this is all just an attempt to "criminalize behavior that is normal."


The full memo can be viewed here:

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cognitive dissident's picture

good to see Uncle Buffet and Coca Cola looking after their personal interests... choke on a Dairy Queen corndog you old fuck.

Joe Davola's picture

and the Clinton family’s private business endeavors

Which are?

yippee kiyay's picture
yippee kiyay (not verified) Joe Davola Oct 26, 2016 7:40 PM

Jail for all of them.

PrayingMantis's picture


... and don't bother looking for Bill the rapist's and Hiliary's money locally from their pay-for-play activities ... the money had been laundered to Qatar ... >>> "Hillary Clinton’s “Sudden Move” Of $1.8 Billion To Qatar Central Bank Stuns Financial World" >>> https://theinternationalreporter.org/2016/10/17/hillary-clintons-sudden-move-of-1-8-billion-to-qatar-central-bank-stuns-financial-world/ ... 

or here ... >>> "Are the Obamas, the Clintons and the Bushes going to seek refuge in Countries that don't Extradite to the US if Trump Wins?" >>> http://freedomoutpost.com/obamas-clintons-bushes-going-seek-refuge-countries-dont-extradite-us-trump-wins/ ...


The Saint's picture
The Saint (not verified) PrayingMantis Oct 26, 2016 8:32 PM

The ONLY reason any person, country or dictator would donate large sums to the Clinton Foundation is because they expect to receive favors from the United States government.  That through a Secretary of State Clinton or a President Clinton.

After Trump wins everyone will finally realize this has been an elborate Pay-To-Play scheme by the Clintons because all these massive donations are going dry right up.


yippee kiyay's picture
yippee kiyay (not verified) The Saint Oct 26, 2016 9:08 PM

Hopefully Trump will win. Though quite doubtful. The system is too corrupt. http://bit.ly/1p1jKnr

J S Bach's picture

The Clinton cancerous tumor on our world seems to have metastisized to the point where they're "too big to jail".  We can only pray for a Trump victory... it seems our only hope for prosecuting the demonic duo.

wildbad's picture

the full circle (jerk) linkup will be :

Bill's personal enrichment scheme --> Any one of the Clinton Foundation illegal (all) Personal enrichment schemes -->  State Department donors and or State Department Favors --> Bill or Killary's personal enrichment schemes.

Escrava Isaura's picture

It takes two to tango.

Concentrate power, being that economic or religious, attract corrupted personalities.


Chris Dakota's picture
Chris Dakota (not verified) Escrava Isaura Oct 27, 2016 6:13 AM

Now I know why they stand in line for hours for a Trump rally.

Sadly behind enemy lines I won't ever experience it.

Snowflake Journalists Triggered by Trump Supporters Hatred of the Press.

"they're scary"


VinceFostersGhost's picture



Now I know why they stand in line for hours for a Trump rally.


Half get in.....half get turned away......and these are big places.


While Kaine had a rally for 30 people.......I wonder if they all got a piece of silver?

MillionDollarBonus_'s picture

The Clintons are savvy deal makers, who managed to amass an astonishing 200 million dollars as public servants. This uncanny ability to hustle and build wealth is exactly what we need in the White House. I want Hillary and Bill to use these skills to build a great economy, with good-paying jobs for women and minorities. As liberals frequently point out to ignorant Trump supporters, Trump made his money through corruption and exploiting his own personal brand, but Hillary made her money through sheer determination and perseverance. She is a true feminist icon, and her election would be a very special moment in our history.



crossroaddemon's picture

OK, if you get it then enlighten me. Why does anyone attend a political rally? It's a circle jerk. There isn't a soul there who isn't already voting for that candidate, and he/she won't say a fucking thing you don't already know (and certainly nothing you can seriously believe in). It's all about getting all warm and fuzzy with people who already share your point of view and stroking each other's dicks. There's far more value in serious discourse with someone you DON'T agree with... you'll learn more.

Chris Dakota's picture
Chris Dakota (not verified) crossroaddemon Oct 27, 2016 9:14 AM

I live/work around EVERYONE who does not agree with me, many boycott me.

I would like to be in a crowd of people who get it and are willing to fight for it.

bdc63's picture

This is all they are talking about this morning on MSNBC "Morning Joe".  Flipped over to CNN and Fox, but nothing, so I watched what they were saying on MSNBC.  Lot's of disgust and shaking of heads and "how could Bill have done this" and "why didn't Hillary stand up and stop him" and "how did the DNC let her get this far without dealing with this."  They are defintately trying to distance "her" from it all, but its obvious that they KNOW its a big deal.

To quote Hamilton the Musical - "She aint never gonna be president now - one less thing to worry about."

ThunderbirdXXI's picture

I just want to say that when ever I buy Planters Mixed nuts, I always throw out the Brazilian nuts; they are a pain in the ass because they always get in the way of the cashews.

crossroaddemon's picture

Forget it. The chances of the Clintons going to jail are exactly zero. Why don't we stop wasting headspace on impossibilities and start talking about what we CAN do?

bdc63's picture

agreed.  Obama will pardon her crimes, and by proxy his own.  Congress won't be allowed to pursue their 2 years of hearing they are talking about.  And George Orwell's dystopia will finally be realized.

Yes We Can. But Lets Not.'s picture

1) Obama hates the Clintons

2) Pardon them for what crimes?  Obama will be out before investigation even begins.

JRobby's picture

Seems to be what the "election" is about ultimately? 

A large group of people accept the activities of corruption and support the notion that this is the way things are done. They clearly do not understand the notion that corruption damages society, economies, markets and stifles healthy growth.

The movement that has desired real change for a very long time is triggered by Trump's candidacy. 

There is a basic difference between the motivations and beliefs of the two groups. I think most intelligent people on both sides of the ideologies know what that difference is.




BarkingCat's picture


Artiste Of Greece

Spammer ALERT

Jethro's picture

To be fair, what the Clintons have done, and continue to do is de riguer in almost all under-developed xountries outside of North America and Europe.

benjamin_1114's picture

It's a fake story, they didn't move the money to Qatar.

Got The Wrong No's picture

and Hillary didn't bleachBit 33,000 emails. Get your head out of your ass.

philipat's picture

Hey yippee kiyay (Soon to be banned and will then use the next new name lonnng) , previously mofio then santafe then Aristotle of Greece then Gargoyle then bleu then oops then lance-a-lot then Loftie then toro. You are a serial spammer and a serial pain in the ass. Might I politely suggest that you go fuck yourself? And get a life.

Your MO is to post a provocative comment which SEEMS to be relevant but you have no interest in joining the discussion (and NEVER do) and your sole objective is to mislead readers into clicking on your falsified links to your BS site. That wastes everyones time is blatant SPAMMING.

Would appreciate regular ZH contributors please take a moment to help me in my campaign against this shithead and report yippee kiyay to abuse@zerohedge.com. with a request for an IP block to prevent multiple new accounts from being issued.

CheapBastard's picture
Blitzer asks Trump campaign to dial back media attacks




She should have responded asking Bitzer for Hillary to stop bombing offices, beating up innocent Americans and inciting mayhem throughout the United States.


Fuck Bitzer!

Loki Libertarian's picture

It's only to plant the seed so when a future false flag happens from a Democrat operative they can blame Trump and say "See bad man with bad words"

Chris Dakota's picture
Chris Dakota (not verified) CheapBastard Oct 27, 2016 7:16 AM

(((Blitzer))) drinking free Wall Street champage at Clinton convention.

the filthy propagandist



Trump knew day one.


neilhorn's picture

Good onya, Phil. The price of freedom is eternal vigilance.

JRobby's picture

A component of the ideological differences on display.


Recall the lessons of organized religion if you were put through that "program" or if you studied it, "tolerance".

Tolerance, although a "nice concept " will allow a disease to spread and destroy if corrective steps are not taken.

We are approaching destruction.  It is time for correction.

neidermeyer's picture

Stealing from desperately poor Haitans.

nmewn's picture

Once upon a time (before ethics & morality was turned into some vast gray area in the public consciousness) that alone would have been enough to disqualify her...for...if you can get away with stealing from the poor...AFTER THEY HAVE JUST SUFFERED THROUGH A CATASTROPHIC EARTHQUAKE...you will be allowed to steal from anyone.

Now there is no public outrage when the homeless & mentally disabled ARE PAID to incite riots in public places, no abuse is too great in order to trigger what is left of their humanity.

Now there is no public outrage (or legal ramifications) when her husband meets privately with...ahem..."lady justice" within one week of the underling (Comey) issuing a no intent verdict when the word INTENT cannot be found within the statute in question.

The inescapable conclusion is the public has now been sufficiently dumbed-down to the point where graft & corruption is not only accepted & expected...it is completely normal in their minds.



I would also like to point out that Hillary's . gov press surrogates are no longer talking about anyone's tax records anymore after it was revealed that her "charity" only dispenses 5-6% of the political patronage...ummm, donations it receives preferring to stuff 94% into their pockets.

JRobby's picture

Under the guise of "savior". This must not be tolerated.


Miss Expectations's picture

WOW...that New Republic article on Doug Band / Bill Clinton provides all the background color you need to see the slimeball, backroom machinations and connections of the Clinton's global money syphon.

Thank you.

Bill Clinton said that Gennifer Flowers could suck a tennis ball through a garden hose.  That's nothing compared to Doug's skill set.

JRobby's picture

The crassness and shallowness of both individuals is nakedly on display. Their behavior will no longer be tolerated.

That is a polite way of saying their days are numbered.

pelican's picture

Hillary could bash puppy heads infront of Kindergarten students and still be the choice of oligarchy. Soros, Rothchilds, etc made a great investiment.


If the Republicians have any brains they would begin impeachment hearings now.



BarkingCat's picture

Hillary wants to be in the history books.

She wants to be remembered as first woman president.

If she does succeed in that goal, I hope she will have another distinction for the history books.

First married couple of impeached presidents. 

With Hillary to go to trial in the Senate and be removed from office and executed for treason.....or at the very least put in Federal prison.

Arnold's picture

The Empress wears no clothes.

Cabreado's picture

FOCUS on a thoroughly corrupt and defunct Congress would have put this Clinton mess away a long time ago; they and their budding criminal relationships would have been shut down and put out to pasture long ago.

Because of failure to FOCUS on the part of the citizenry, now the citizenry has to deal with a corrupt Executive, a defunct Judicial, and the longest list of enabling and corrupt agencies ever known...

Water over the dam?

with plenty of time to analyze, reflect, become humble even,
the citizenry STILL at the eleventh hour has no clue.

General Titus's picture

To make it to the big stage you have to have skeletons in the closet, or just be a lgbt, communist, or criminal.   Dennis Hastert is a perfect example

Cabreado's picture

And "choke on a corndog Buffet" is the best you got?

You couldn't even include the part where you failed to focus and put pressure on the "governing" body complicit in failing to address the thoroughly corrupt SEC?

neidermeyer's picture

Buffet's going straight to hell , I don't care what puts him on that highway ... a corndog is just fine... arkanicide is great ,, a stroke while humping his secretary would be fitting...

FreedomGuy's picture

Wow! With this information The NY Times, The Washington Post, 60 Minutes, CNN and all the networks will be all over this and exposing the deep corruption of the Clintons!!! I can't wait to see what true professional reporters find out compared to the amateurs at WikiLeaks, Project Veritas, and the Enquirer find! It will probably bring down a President and a candaidate, a.k.a., Nixon!

Any day now. Annnny day now, Annnny...crickets.

Jethro's picture

Christian Annampour will get right on that....LOL

SoDamnMad's picture

I want Trump to nullify the Congressional retirement program and fold it into SS. See them howl.