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The byzantine nature of a luxury mansion transaction allegedly involving the Black Lives Matter Global Network Foundation, particularly as it relates to its purported more than doubling in value, continues to raise questions.
In a scenario that sounds like it could have occurred on the flamboyant Bravo TV channel series “Million Dollar Listing Los Angeles,” the property reportedly increased by 250 percent based on neighborhood comps, and between the short time it was apparently purchased by a real estate developer working for the BLM co-founders and when it was sold to a BLM shell company in a cash deal.
In a story first broken by the liberal New York Magazine, author Sean Campbell claimed that the complicated acquisition of the 6,500 square foot, six-bedroom property in the Los Angeles enclave of Studio City “suggest that it has been handled in ways that blur, or cross, boundaries between the charity and private companies owned by some of its leaders.”
On Instagram, BLM co-founder Patrisse Cullors reportedly denounced the New York magazine article as “a despicable abuse of a platform” and a form of racism and sexism.
In the lengthy article, Campbell, who has been covering BLM finances, added that “It creates the impression that money donated to the cause of racial justice has been spent in ways that benefit the leaders of Black Lives Matter personally.”
BLM reportedly scrambles to ‘kill’ story covering $6M California home purchased with donations https://t.co/ziYo8DZGBz
— Jack Furnari (@JackBPR) April 5, 2022
In a matter of days after the above-mentioned developer, Dyane Pascall reportedly purchased the two parcels of land from a televangelist for $3.1 million, BLMGNF bought it for $5.8 million using donated funds, according to various media accounts.
Specifically, two days after Pascall bought the mansion, ” lawyers for the Democratic law firm Perkins Coie incorporated a limited liability company (LLC) in Delaware named for the mansion’s address. Four days later — on October 27 — the home was transferred to the company for $5.8 million, records show. Property records also show that no transfer taxes were charged. BLMGNF is a tax-exempt charity,” the New York Post detailed.
“The quick fluctuation in price for the BLMGNF property has raised eyebrows among charity experts and good government groups.” the Post added.
Embattled BLM hires Clinton lawyer with ties to Steele dossier to help with financial scandal https://t.co/adgngEEvMH
— Jack Furnari (@JackBPR) February 18, 2022
The Government Integrity Project at the National Legal and Policy Center has filed a complaint against BLM about the transaction with the IRS and the California attorney general’s office
The mansion, which the group considers a safe house as well as a creative space for content producers, reportedly provided the backdrop for a YouTube video, now made private, in which BLM leaders Cullors, Alicia Garza, and Melina Abdullah marked the first anniversary of the death of George Floyd by a Minneapolis police officer.
BLM has raked in at least $60 million in donations.
Cullors had stepped down as executive director of BLM in May 2021 shortly after her own high-end real estate holdings became public.
Asra Nomani reveals how BLM cofounder monetized ‘activism’ to go on multi-million dollar real estate-buying binge https://t.co/vg79ILCyW3 pic.twitter.com/V9murhZtLh
— Conservative News (@BIZPACReview) April 11, 2021
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Robert@bizpacreview.com
Robert Jonathan is a staff writer for BizPac Review. He is a longtime writer/editor for news aggregation websites and has also developed content in the legal and financial publishing sectors as well as for online education. He earned a Juris Doctorate from the University of Connecticut School of Law, “a law school the basketball teams can be proud of.”
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