Republican Fundraiser Expected to Plead Guilty to Violating Foreign Lobbying Law, Sources Say

Republican fundraiser Elliott Broidy is expected to plead guilty to violating a foreign lobbying law, according to people familiar with the matter, the latest development in a sprawling investigation into a multibillion-dollar alleged fraud at a Malaysian fund that has ensnared a cast of characters, from

Goldman Sachs Group Inc.

to a rap star.

Mr. Broidy was charged in a criminal-information document filed Thursday in federal court in Washington, D.C., with conspiring to violate the Foreign Agents Registration Act, a law that requires lobbyists for foreign nationals to register that work. The document accused Mr. Broidy of failing to report work for which he was paid at least $6 million by the man accused of masterminding the alleged fraud, Jho Low, to try to influence the Justice Department investigation into the scandal. Prosecutors usually use that type of document when they have reached an agreement with a defendant, and Mr.

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How Revenue Sources Shape the Cultures of For-Profit, Non-Profit, and Government Organizations

When we look beyond an organization’s Internal Revenue Service (IRS) non-profit status as reported on their IRS 990 Form, many of the distinctions between For-Profit and Non-Profit corporations become operationally meaningless. As Peter Drucker states, “The differences between managing a chain of retail stores and managing a Roman Catholic Diocese are amazingly fewer than retail executives or bishops realize. The differences are mainly in the application rather than the principles.” Many of the timeless principles that produce sustained financial and non-financial performance in high-performing For-Profit companies can also be applied to Non-Profit corporations, as described by Collins in his monograph, Good to Great and the Social Sectors. In fact, contrary to the view taught in many business schools, recent studies such as Collins and Porras’ Good to Great have shown that profit and wealth are not the driving force or primary objective of truly visionary For-Profit companies. Rather, For-Profit … Read More