• PART 8: FCRP Whitewashes Trust Scandal At Membership Meeting

    August 7, 2024
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    Last fall, a 'forensic review', not an audit, was initiated by FCRP leadership on the Fulton County trust, of which there were serious indications of mismanagement and lack of fiduciary responsibility over the last decade and more.

    The results of the 'forensic review' for fiscal year 2018 by a well-known and reputable accounting firm were available by January of this year.

    The 'forensic review' was conducted on only one year of the trust's existence. No attempt was made to conduct a full audit or look at any other years where records simply didn't exist.

    Current FCRP leadership ran on a platform of transparency, and assured the membership the results of the forensic review would be shown to members, and procedures put in place to correct deficiencies going forward.

    Last week, a meeting was finally held, post the Republican National Convention, and an attempt to 'whitewash' the situation was conducted.

    FCRP delegates to the RNC included individuals involved in the lack of fiduciary responsibility regarding the trust.

    Fiduciary responsibility is a big deal per GA law. Essentially, the 'trustee' must ensure he acts in the best interests of the beneficiary at all times, and avoid ANY conflict of interest or personal gain.

    This did not happen since the trust was initiated in 2006, until last year when new FCRP leadership was installed.

    We have reported on this situation extensively as shown below.

    The FCRP membership meeting last week as reported to us by sources included an emotional performance by original and current trustee Michael Dvorscak, who admitted the trust was mismanaged and the returns to the beneficiary (FCRP) were not what they should have been.

    Millions of dollars in returns from the original trust capital were not available to FCRP candidates as would have happened under proper management.

    However, there was no mention by FCRP leadership at the membership meeting of:

    • Large payments to consultants including to former Dominion lobbyists without proper documentation of services rendered
    • Decade-long payments for a 'trust office' that may not have existed
    • Large payments for dining at exclusive restaurants, and other social activities
    • Large numbers of debit cards attached to the trust account
    • No accountability for payments over ten plus years
    • No records of required operating committee approval for amendments to the trust which diverted most of the funds from the grantor's wishes (grantor only wanted funds to go to FCRP candidates) and to 'administrative and operational' expenses.

    FCRP leadership per our sources did offer for members to come read the 'forensic review' results in private.

    FCRP leadership declared they now had procedures in place to prevent further 'mismanagement' of the trust.

    The 'trust disclosure' part of the membership meeting last week was not initiated until late in the evening, when many members were tired and had left.

    Dvorcsak, who was involved in the mismanagement for almost two decades, is still a trustee.

    On what planet does this happen?

    You can read our entire series on the FCRP trust issue below:

    PART 7: The Curious Case Of The FCRP 'Trust Office'

    PART 6: Is This Why FCRP Delayed Delegate Transparency Until After RNC?

    PART 5: FCRP Again Delays Disclosure Of 'Trust Audit' Results, Till After Republican National Convention

    PART 4: The FCRP Operating Committee Vote To Delay Disclosure Of Fiduciary Irresponsibility Till After The GA GOP Convention

    PART 3: Here Are 'Some' Of The FCRP Receipts

    PART 2: The FCRP Coverup

    PART 1: The Audit Of Fulton County GOP That No One Can See

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    Author

    L Todd Wood

    L. Todd Wood is the CEO of Creative Destruction Media. He's also been a longtime national security columnist for the Washington Times, and other large publications. Visit LToddWood.com.

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