Tibet Fund says 1.5 million dollars was loan to Office of Tibet

[Ringo Starr]

"Tibet Sun Online news
ON THE WEB, 8 December 2017
Countering claims by President of Central Tibetan Administration Lobsang Sangay that 1.5 million dollars taken from The Tibet Fund to purchase the Office of Tibet in Washington DC was a grant but not a loan, The Tibet Fund stated the amount was a loan.

A press release issued by The Tibet Fund in New York on Thursday said that the amount was a loan, but both the Board of The Tibet Fund and the CTA hoped and expected that at some point the loan would be forgiven and the full amount would then be deemed a grant."

Source: https://www.tibetsun.com/news/2017/12/08/tibet-fund-says-1-5-million-dollars-was-loan-to-office-of-tibet

First of all, this press statement from The Tibet Fund clearly makes Lobsang Sangay wrong and Penpa Tsering right.

But that is not all.
Look at the captures from The Tibet Fund's audited financial statements' notes 2014 thru 2016.

Notice a problem?

The loan by The Tibet Fund was to The Tibetan Community Development Fund, not OOT, back in 2014.
Then somehow it changed to OOT in 2015 and 2016. !!!

The Tibetan Community Development Fund has not filed audited financial reports to the IRS since 2014, the same year it was touted to have received the loan from The Tibet Fund, according to the latter's audited financial statements.

Where is the paper trail? Where does it lead to?

[grandmapele]

Is anyone going to own up to where the paper trail starts and ends? Money is disappearing into the rabbit hole and no one is able to say for sure which is what. So very convenient not to file any audit report. Sounds like there are a lot of magicians with a few master magicians in the whole rigmarole.

[Celia]

@grandmapele, considering the shady characters at play and their modus operandi, it is hardly surprising that such is the state of the accounts…totally questionable and vague entries records. What is clear is that more dirt will arise following the mud-slinging saga between both camps.

[DharmaSpace]

A lot of tongue twisting words and statements being said by all part of the Tibetan machinery, trust no one let alone the CTA.

Since when did the Tibetans in exile start giving out grants that are meant to help the Tibetan people in exile?

Isn't this not spending one's donor's money wisely? 

[grandmapele]

@Celia, me thinks it's more than shady characters we are seeing here! It was an attempt by the powers that be to try to re-categorize the entry!! Lmao.

I hope this mudslinging saga continues and let the rest of the world see what floats up. Then, hopefully they will start to wake up to what's really going on.

[Belinda Mae]

  The CTA is really in deep shit. They can just transfer and use funds without proper recording and the best thing is they can totally skip the auditing part. This goes to show how irresponsible there are to their people. If they continue on like this, I think this government will not last long. Good luck to CTA 

[Celia]

@Belinda Mae, unfortunately, CTA has been getting away with such deceptions for decades now by capitalising on people's faith & respect for Dalai Lama and also distracting people, particularly Tibetans from the real issues  with "alternative facts". If CTA has no qualms distorting facts and truth to their advantage, what more of manipulating account entries to suit their needs?

Judging from the actions of CTA to date, it is not only the case where CTA is just irresponsible but more of CTA never serving the interests of its people.

The only silver lining at this juncture is that with more dirt about CTA being unearthed throughout this drama as it plays out publically, more and more people, especially Tibetans, will wizen up and start to demand more accountability from CTA.