MSM SILENT: Ben Carson Finds $500 BILLION in Fraud-Mismanagement in HUD Audit

  
Via:  barney-frank  •  3 years ago  •  34 comments

MSM SILENT: Ben Carson Finds $500 BILLION in Fraud-Mismanagement in HUD Audit

HUD Director Dr. Ben Carson found a big economic pitfall by the Obama administration.


Screen-Shot-2017-04-06-at-12.04.55-PM-57http://16004-presscdn-0-50.pagely.netdna-cdn.com/wp-content/uploads/Screen-Shot-2017-04-06-at-12.04.55-PM-300x164.png 300w, http://16004-presscdn-0-50.pagely.netdna-cdn.com/wp-content/uploads/Screen-Shot-2017-04-06-at-12.04.55-PM-768x419.png 768w, http://16004-presscdn-0-50.pagely.netdna-cdn.com/wp-content/uploads/Screen-Shot-2017-04-06-at-12.04.55-PM-1024x559.png 1024w, http://16004-presscdn-0-50.pagely.netdna-cdn.com/wp-content/uploads/Screen-Shot-2017-04-06-at-12.04.55-PM-370x202.png 370w, http://16004-presscdn-0-50.pagely.netdna-cdn.com/wp-content/uploads/Screen-Shot-2017-04-06-at-12.04.55-PM-1260x687.png 1260w" alt="" width="575" height="314">

The  mainstream media  has neglected to report on a  BIG  find by  Dr. Ben Carson . The Trump cabinet is a winning cabinet.

Dr. Carson  dug into the agencies records in a sweeping audit wherein he found substantial bookkeeping “errors”, which only prove either the  incompetence  or the  corrupt  nature of the previous administration led by former-president,  Barack Obama .

The  HUD report  found $500 in fraud and mismanagement in the government agency.


What We Found

The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and general ledger accounts. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.


We took a screenshot of the  .pdf  file that outlines the findings by  Dr. Carson and his team :

Screen-Shot-2017-04-06-at-11.56.26-AM-57


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Petey Coober
link   Petey Coober    3 years ago

This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.

I'm not at all surprised that occurred . Obama got to the point where he assumed he was above the law ...

 
 
 
A. Macarthur
link   A. Macarthur    3 years ago

FROM THE AUDIT:

What We Found The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively. There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and general ledger accounts. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.

Disclaimer of Opinion Because of the significance of the matters described in the Basis for Disclaimer of Opinion section above, we were not able to obtain sufficient, appropriate audit evidence to provide an audit opinion on HUD’s principal financial statements and accompanying notes as of September 30, 2016 and 2015 (restated), and its net costs, changes in net position, and budgetary resources for the fiscal year then ended. Accordingly, we do not express an opinion on the financial statements.

No mention of "FRAUD".

No excuse for sloppy, incompetent and improper accounting … but FRAUD implies "intent" to deceive.

Where did the HEADLINE originate?

Please post the article or link to the article that authored the headline.

 
 
 
96WS6
link   96WS6  replied to  A. Macarthur   3 years ago

Yes unfortunately there are rarely ever consequences for boobery that costs taxpayers possibly millions or even billions.

 
 
 
96WS6
link   96WS6  replied to  A. Macarthur   3 years ago

No fraud, but sloppy accounting of billions is enough of a problem, don't you think?

 
 
 
A. Macarthur
link   A. Macarthur  replied to  96WS6   3 years ago

No one is stating the bad accounting is not a problem; that's a separate issue from lying about fraud and lying about and crediting Carson for something he had no hand in.

If I am going to continue here, this dishonest shit has to stop; only a damned fool would try and reason with ... damned fool positions.

 
 
 
CM
link   CM    3 years ago

ONCE AGAIN FOLKS, USE YOUR OWN INTELLECT...HOW CAN THE SECRETARY OF HUD, WHO HAS JUST BEEN CONFIRMED INTO THAT POSITION "FIND $516B DOLLARS IN LESS THAN ONE MONTH????IF FUNDS WERE FOUND, THAT AUDIT HAD TO HAVE BEEN TAKING PLACE FOR AT LEAST ONE YEAR, AT LEAST!!! YOU JUST DON'T GO INTO A JOB AND FIND $$$$$$$$..THAT AUDIT WAS ALREADY BEEN WORKED ON AND ANOTHER OF TRUMP'S LIARS IS TAKING CREDIT FOR THE FIND...I KNOW THERE ARE SEVERAL ACCOUNTANTS ON NT THAT CAN BACK UP WHAT I HAVE WRITTEN IF THEY SO CHOOSE...

 

BEN CARSON, A MEDICAL DOCTOR SURGEON, CAN GO INTO SOMEONE'S BRAIN AND FIND THE TUMOR THAT IS CAUSING THE ILLNESS, BUT FIRST, THERE IS THE MRI, CAT SCAN, BLOOD WORK AND ALL THE OTHER TESTING THAT HAD TO BE DONE, HE WOULD NOT JUST OPEN UP THE PATIENT AND FIND THE PROBLEM..THAT ARTICLE IS A LIE...

 
 
 
deepwaterdon
link   deepwaterdon  replied to  CM   3 years ago

CM.... agree 100%. the article and the premise that it supposes is bullshit, probably shat from the pea sized organism that is Bannons' brain.

 
 
 
Randy
link   Randy  replied to  CM   3 years ago

1st of all this audit was begun on November 15, 2016 (for fy2016) from an inquiry begun September 30, 2016 and because of another imbalance in fy2015, well before the last election, so Ben Carson had nothing to do with it.

In flipping through the audit itself it is obvious that this audit is not alleging that there is any evidence of fraud or even that there is any money missing. It's (the IG's office) basic complaint is that HUD continues to use a cumulative and First-In and First-Out (FIFO) method of accounting in some of it's sections and is two years past it due date for completely implementing a newer government accounting system called United States Generally Accepted Accounting Principles (GAAP) in them. It believes that this, with some disclaimers since because of the old accounting method in some parts of HUD (particularly in Ginnie Mae and FHA) are impossible to estimate after the new system IS used, will account for the errors it has encountered, since those are primarily where the errors (imbalances) were encountered. It recommends, in common English, that the management folks of HUD (particularly in the affected sections) get their shit together and finishes it's change over of accounting methods (from FIFO to GAAP) and then redoes their books for the last two fiscal years and resubmit those findings to the HUD's IG Office for further review and audit. It alleges No Fraud and No Missing money.

In short, no big deal. Unless something comes up after they implement the newer accounting method throughout HUD and the books still don't come close to balancing. then there might be a problem. As for now, no real harm, no foul and certainly nothing to do with Ben Carson.

 
 
 
JohnRussell
link   JohnRussell  replied to  Randy   3 years ago

good job Randy. We must have figured this out at the same time. 

 
 
 
Randy
link   Randy  replied to  JohnRussell   3 years ago

It was easy enough to figure out by the time I was through the first 50 or 60 pages. After that it was mostly just recommendations in long form. Basically it was all just a long version of what it says on the first ten pages or so. Lots of experience reading government BS from the Air Force. They even taught a class in reading and writing it in NCO Leadership School. We called it Creative Bullshit class. LOL!

 
 
 
JohnRussell
link   JohnRussell  replied to  Randy   3 years ago

I only read the introduction.  

I saw that Infowars and Gateway Pundit were promoting it (Carson angle) so I knew it was a crock of shit. Then I remembered that Carson's confirmation was one of the last of the cabinet and looked up the date. 

Right wing and conspiracy media depend on the stupidity of their readers. 

 

 
 
 
CM
link   CM  replied to  Randy   3 years ago

Thank you Randy for breaking it down...

 
 
 
96WS6
link   96WS6  replied to  Randy   3 years ago

OK so even if Carson is not responsible for finding the problems the BO admin is still responsible for causing them.  There would be nothing to see if there weren't some very sloppy accounting going on.  I wouldn't cheer too hard if i were you.

 
 
 
CM
link   CM    3 years ago

Apologies for the Upper Case..I did not notice it until it was completed...

 
 
 
JohnRussell
link   JohnRussell    3 years ago

The chances that this seeded article represents an accurate picture are virtually zero. 

The sources that are peddling this story are Infowars, Gateway Pundit, Hannity, and other assorted right wing and crackpot outlets.

At best it is a partial , incomplete and misleading account. Wait for more reliable sources. 

https://www.bing.com/news/search?q=Ben+Carson+Finds+%24500+BILLION+In+Fraud&go=Search&qs=bs&form=QBNT

 
 
 
Kavika
link   Kavika     3 years ago

Both Gateway Pundit and Infowars are carrying the story.

That should tell you all you need to know.

 
 
 
JohnRussell
link   JohnRussell    3 years ago

FAKE NEWS FAKE NEWS FAKE NEWS

 

In one of his first acts as HUD Secretary, Carson ordered an audit of the agency. What he found was staggering: $520 billion in bookkeeping errors.  

https://www.infowars.com/ben-carson-finds-500-billion-billion-in-errors-during-audit-of-obama-hud/

FAKE NEWS FAKE NEWS FAKE NEWS

 

(Carson was not confirmed by the Senate until after the audit had been done and published.)

 

 
 
 
Donald J. Trump fan 1
link   Donald J. Trump fan 1    3 years ago

Way to go Dr. Carson!  Keep up the great work.  thumbs up

 
 
 
Randy
link   Randy  replied to  Donald J. Trump fan 1   3 years ago

He did nothing. This audit and even some of the information being audited was from way before he was even a Presidential Candidate, let alone in charge of HUD. This has nothing to do with anything he had anything to do with.

 
 
 
A. Macarthur
link   A. Macarthur  replied to  Donald J. Trump fan 1   3 years ago

This is where we are in America today; start with a lie and proceed based on that lie.

... Then celebrate the non-existent positive effects of the lie.

There can be no rational discussion any more in these threads.

 
 
 
Hal A. Lujah
link   Hal A. Lujah  replied to  Donald J. Trump fan 1   3 years ago

thumbs upcrazythumbs upcrazythumbs up

 
 
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