Trump's 'War on Fraud' Supported by Alleged Fraudsters, Report Reveals
Group working on Trump's 'war on fraud' is run by accused fraudsters: report
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A report reveals that the State Financial Officers Foundation, which backs Trump's 'war on fraud,' is led by individuals facing serious fraud allegations. Seth Metcalf, its president, is accused of corruption involving Ohio's pension fund, while vice chair Adam Crum allegedly misused state funds in Alaska.
- 01Seth Metcalf, president of the State Financial Officers Foundation, faces allegations of colluding to misdirect $65 billion from Ohio's pension fund.
- 02Metcalf is also being sued for fraud related to an AI startup's mismanagement.
- 03Adam Crum, the foundation's vice chair, allegedly attempted to misuse $75 million in state funds while serving as Alaska's revenue commissioner.
- 04The foundation has been criticized by red states for exaggerating fraud statistics, with claims deemed 'wildly inflated' by Kentucky's Democratic governor.
- 05An independent audit revealed that a member of the foundation misrepresented hurricane recovery efforts using misleading calculations.
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A recent report by The Lever highlights troubling connections between the Trump administration's 'war on fraud' and the State Financial Officers Foundation, a nonprofit led by individuals facing serious fraud allegations. Seth Metcalf, the foundation's president and a former Ohio deputy treasurer, is accused of corruption related to a $65 billion misdirection involving the state's teachers' pension fund. Whistleblowers allege that Metcalf manipulated pension board members, whom an Ohio judge described as 'mere puppets.' Additionally, he faces a lawsuit for fraud linked to an AI startup's financial mismanagement. The foundation's vice chair, Adam Crum, is also under scrutiny for allegedly attempting to misuse $75 million in state funds while serving as Alaska's revenue commissioner. Reports indicate that he awarded $8.5 million in contracts to a consulting firm that sponsored a cruise for the foundation. Furthermore, red states have criticized the foundation for inflating fraud statistics, with Kentucky's Democratic Governor Andy Beshear labeling some claims as 'wildly inflated.'
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The allegations against the foundation's leaders could undermine public trust in state financial management and fraud prevention efforts.
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