August 17, 2023

Dem Money Network Faces IRS Complain Over Founder's Funds

A large Democratic "dark money" network is facing an IRS complaint over the wealth of its leader.

The Americans for Public Trust (APT) filed the complaint Tuesday against groups affiliated with Arabella Advisors in Washington.

"Eric Kessler created one of the most complex and sophisticated dark money networks influencing U.S. politics and policy today," said APT executive director Caitlin Sutherland.

"Now, it appears as though he misled the IRS and may have illegally personally benefited by rerouting nonprofit cash back into his own pocket through Arabella Advisors. The IRS must immediately investigate this scheme, and determine to what degree Eric Kessler has used Arabella and their managed-nonprofits for his own self-enrichment," he added.

"The days of Arabella Advisors exercising massive influence over our political system, while flying largely under the radar and enriching their founder, are over," Sutherland added on social media.

"Time to shine a light on what they've been doing," she added.

"Between 2006 and 2021, New Venture Fund paid Arabella $166 million, Americans for Public Trust said in its complaint," according to the Washington Post.

"From 2009 to 2021, Sixteen Thirty Fund paid almost $25 million to Arabella, which has received $11.9 million from Windward Fund and almost $25 million from Hopewell Fund, according to the watchdog," it continued.

The accusations come as Democrats seek to ramp up funding during the 2024 political campaign season, leading to more scrutiny over donations.

The IRS complaint could also lead to required changes for the organization that could apply to other groups funding political operations.

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