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The Trudeau Foundation Exposed

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 titanic1    244


Prime Minister Justin Trudeau was the top draw at a $1,500 Liberal Party cash-for-access fundraiser at the mansion of a wealthy Chinese-Canadian business executive in May. One of the guests at the event was a well-heeled donor who was seeking Ottawa’s final approval to begin operating a new bank aimed at Canada’s Chinese community.

The Globe and Mail has learned that wealthy Chinese businessman Zhang Bin who, with a partner, donated $1-million to the Pierre Elliott Trudeau Foundation and the University of Montreal Faculty of Law weeks after the fundraiser, also attended the event. Mr. Zhang is a political adviser to the Chinese government in Beijing and a senior apparatchik in the network of Chinese state promotional activities around the world.


Chinese Business Chamber of Commerce chair Benson Wong played host to Mr. Trudeau and 32 other people at his Toronto home. Among the donors was insurance tycoon Shenglin Xian, the founder of Wealth One Bank of Canada, and several Chinese billionaires.

At the time, Mr. Xian, president of Toronto-based Shenglin Financial Group Inc., was waiting for final approval from federal bank regulators for his Schedule 1 bank to start business in Canada. Schedule 1 banks are domestic, not foreign, and authorized to accept deposits in Canada.


Attending the fundraiser appears to breach the ethical rules laid down by Mr. Trudeau after he took office. These “Open and Accountable Government” rules state “there should be no preferential access, or appearance of preferential access” in exchange for political donations.

The fundraiser also appears to violate Liberal Party guidelines that require party officials to ban anyone from attending a fundraiser if they have direct business interests before the government.

The Office of the Superintendent of Financial Institutions (OSFI), which reports to Parliament through Finance Minister Bill Morneau, gave the final okay for Wealth One to launch as a federally chartered domestic bank on July 19 with online banking services supported by offices in Toronto and Vancouver.

Canada’s banking watchdog assesses applications for new banks in a multistage process that includes consultation with the Finance Department.

Liberal Party spokesman Braeden Caley played down the presence of Mr. Xian at the elite Trudeau fundraiser, and maintained Wealth One’s application was not discussed.


Prime Minister Justin Trudeau was forced to defend his party's fundraising methods in the House of Commons Tuesday after media reports emerged revealing he attended a fundraiser with a Chinese businessman who went on to donate $200,000 to the Pierre Elliott Trudeau Foundation.

"The prime minister was the star attraction at this exclusive cash for access event with Chinese billionaires," said Tory MP Blaine Calkins during Tuesday's question period.


"Zhang Bin is a political advisor to the Chinese government, and after attending the event, he and his partner ... donated $1 million ... including $50,000 to build a statue of the former prime minister.

"We know the prime minister's love for the Chinese dictatorship, so what exactly did he promise the Chinese for their million dollar donation?" asked the Red Deer-Lacombe MP.

Of the $1 million donated to the University of Montreal and the Trudeau foundation to honour the former prime minister, $200,000 went to the foundation, $750,000 went to the University of Montreal's law faculty for scholarships and $50,000 went to fund the statue, according to The Globe and Mail. 


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It's been going on for a long time.

Norman Dodd On Tax Exempt Foundations

Tax Exempt Foundations and Think Tanks: The Process of Invisible Power

“Philanthropy is the essential element in the making of Rockefeller power. It gives the Rockefellers a priceless reputation as public benefactors which the public values so highly that power over public affairs is placed in the Rockefellers’ hands. Philanthropy generates more power than wealth alone can provide.” – Myer Kutz Rockefeller Power (1974)



Many are not going to be happy about the current media spot light on Tax Exempt Foundations.

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