Re: Vlad Drucklec Censor's My Response's to him On The CFC Discussion Boards My Resp
Hal, I find it hard to believe that the link works for everyone except you. I have copied and pasted the entire article below for your edification. FIDE is a non profit organization so "clawing back an investment" does not make any sense. Andrew Paulson not being involved in AGON is of no relevance. The article claims that it appears that Kirsan controls AGON as per the signed contract and that transactions not disclosed as related party transactions in the FIDE financials went on between AGON and FIDE. Basically undisclosed related party transactions are illegal in a public company and even more so in a non profit organization.
They are the type of transactions that would not show up in an audit and are very difficult for auditors to detect. The FIDE under Kirsan's leadershp is no prize and probably was better off going under and starting something new without questionable money given the fragile situation today. It is highly unlikely the US Department of The Treasury would allow exemptions for FIDE with Kirsan as president even with no powers as given the questions surrounding the AGON situation they simply would not trust the veracity of anything FIDE has to say. They would ask "What else is not being disclosed??"
Balance of article below.
Hal, I find it hard to believe that the link works for everyone except you. I have copied and pasted the entire article below for your edification. FIDE is a non profit organization so "clawing back an investment" does not make any sense. Andrew Paulson not being involved in AGON is of no relevance. The article claims that it appears that Kirsan controls AGON as per the signed contract and that transactions not disclosed as related party transactions in the FIDE financials went on between AGON and FIDE. Basically undisclosed related party transactions are illegal in a public company and even more so in a non profit organization.
They are the type of transactions that would not show up in an audit and are very difficult for auditors to detect. The FIDE under Kirsan's leadershp is no prize and probably was better off going under and starting something new without questionable money given the fragile situation today. It is highly unlikely the US Department of The Treasury would allow exemptions for FIDE with Kirsan as president even with no powers as given the questions surrounding the AGON situation they simply would not trust the veracity of anything FIDE has to say. They would ask "What else is not being disclosed??"
Originally posted by Chess.com
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