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Since we glanced at Erik Prince/FSG, it's only fair to highlight the other contractor in #Somalia who could gain most from any potential windfalls associated with US troops withdrawal.
Bancroft Global Development (BGD henceforth)
Here's a brief thread on this shady business https://twitter.com/Barkinka1/status/1335250481527009280
Bancroft Global Development (BGD henceforth)Here's a brief thread on this shady business https://twitter.com/Barkinka1/status/1335250481527009280
Believe it or not, BGD is registered non-profit charitable organisation with a 501c3 status
There's a thin line between caring and killing for a charity that should be in the Guinness book of records for highest concentration of trained foreign mercenaries on the payroll
Anyway
There's a thin line between caring and killing for a charity that should be in the Guinness book of records for highest concentration of trained foreign mercenaries on the payroll
Anyway
BGD has 2 trustee directors who take turns in the president role, and more crucially, are a married couple. Namely, Michael Stock and Melissa Bates (who uses her maiden name fwer) 
This couple runs additional entities from the same registration address (more on this later)
This couple runs additional entities from the same registration address (more on this later)
Bulk of BGD's activities are in 
as per their 2018 Form 990 disclosure.
Total 'program service expenses' is given as $28,522,150 for t/y/e 2018
as per their 2018 Form 990 disclosure.Total 'program service expenses' is given as $28,522,150 for t/y/e 2018
Of these experiences, $2.3 million is directly paid to Donovan Bond and Company LLC for "administrative services" rendered.
This company is owned by the same lovely couple and has 3 employees; president (Mr Stock himself), a director (Ms Bates herself) and 1 other unnamed person
This company is owned by the same lovely couple and has 3 employees; president (Mr Stock himself), a director (Ms Bates herself) and 1 other unnamed person
Another $10.7 million was paid to Indian Ocean Properties LLC which is 88% owned and controlled by Bancroft Specialty Logistics LLC which in turn is 100% owned by the same lovely couple & registered in the same Washington DC address as BGD and Donovan Bond & Company (no surprise)
All in all, over 46% of of BGD's total expenses is routed through shady sub contracting manoeuvres back to the husband and wife trustee officers of tax-exempted non-profit "charitable" organisation. Handy sum of $13.1 million.
Questionable practices? Conflict of interest? Shady?
Questionable practices? Conflict of interest? Shady?
BGD was in fact raided by several US government agencies including ICE and the FBI, and were under investigation for 3 years by the IRS
Irony is that, while law enforcement agencies are raiding their US offices, BGD is supposedly strengthening Somalia's critical justice agencies
Irony is that, while law enforcement agencies are raiding their US offices, BGD is supposedly strengthening Somalia's critical justice agencies
@hysperbole was quoting few months ago a former US DoD official as saying BGD “is a recipe for disaster”
But it was BGD who created and continues to train Danab forces.
If US troops officially withdraw, then it stands to reason that BGD would benefit
https://pulitzercenter.org/reporting/danab-brigade-somalias-elite-us-sponsored-special-ops-force
But it was BGD who created and continues to train Danab forces.
If US troops officially withdraw, then it stands to reason that BGD would benefit
https://pulitzercenter.org/reporting/danab-brigade-somalias-elite-us-sponsored-special-ops-force
If one includes 2013, 2019 & 2010, BGD's total revenues and expenses would probably exceed $175 million
We could calculate how much on average this couple have routed to themselves over all these years, but there's no point in doing so for me.
END.
We could calculate how much on average this couple have routed to themselves over all these years, but there's no point in doing so for me.
END.
