Legal News

New York Sends Subpoena to U.S. Chamber of Commerce over its Finances
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The U.S. Chamber of Commerce reported on Wednesday that it has received a subpoena issued by the New York Attorney General Eric Schneiderman over the finances of the Chamber. The statement issued by the U.S. Chamber of Commerce did not provide any details about the subpoena, but according t media sources Schneiderman was investigating the possibilities of a nonprofit organization funneling money to the Chamber for its political activities.

Under the law, nonprofit groups are barred by tax rules from trying to influence legislation as a major part of their objectives or activities and such groups may not participate in any campaign activity for or against political candidates.

The investigation is currently being conducted by the charities bureau of the New York Attorney General’s office. Under the law of New York, charities that do business in New York, or raise money in the state must annually file reports with the attorney general’s office and provide an IRS form if they solicit more than $25000 at a time in contributions.

  
What
Where


The furor is over a series of acts first reported by the New York Times, which showed that in 2010, an organization named Starr Foundation, chaired by former American International Group Inc head Maurice Greenberg had contributed about $19 million to a nonprofit, the National Chamber Foundation. The National Chamber Foundation had then loaned $18.1 million to the U.S. Chamber of Commerce, and there was no indication that any considerable part of the loan had been repaid.

Thomas Collamore, the vice president for communications for the Chamber of Commerce said that the subpoena was “curiously timed†given that it was just a few months from the elections. In an issued statement, Collamore said, “In the midst of a highly charged political season, it comes as no surprise that the New York State Attorney General would use his office to rehash a very old story about the Chamber’s finances.â€

The alleged matter had already been brought to the notice of the IRS by a watchdog group called U.S. Chamber Watch, in 2010. The Starr Foundation or others concerned were not available for comments.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Litigation Employment Attorney (Remote) in Burbank, CA.

USA-CA-Burbank

     We are a small and highly respected Burbank based REMOTE employment litigation d...

Apply now

Litigation Attorney

USA-CA-Torrance

​Position: Associate Attorney Firm: The Legacy Lawyers, P.C. Culture: "America First Pat...

Apply now

Litigation Attorney

USA-CA-Irvine

​Position: Associate Attorney Firm: The Legacy Lawyers, P.C. Culture: "America First Pat...

Apply now

Associate Attorney - Defense Litigation Experience

USA-TX-Dallas

Galloway\'s Dallas office is seeking an Associate Attorneys with 1 - 2 years of experience...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top