Bestselling investigative author Peter Schweizer’s book ‘Red-Handed’ reads, “Universities like Yale fail to report Chinese Communist cash as required by law.”
“Schweizer says that U.S. colleges and universities are not complying with federal laws with regards to reporting the millions of dollars they receive in donations linked to the Chinese Communist Party,” reports Breitbart News.
“Schweizer details these findings in his latest book, Red-Handed: How American Elites Get Rich Helping China Win,” according to Breitbart News.
“Section 117 of the Education Act in 1965 is very explicit. It says that if U.S. colleges and universities take in foreign donations, substantial foreign donations, they are required to report those to the federal government,” Schweizer said.
“This is particularly applicable to China today, because hundreds of millions of dollars are flowing to American colleges and universities from Chinese nationals, many of them linked to the Chinese Communist Party, and to the Chinese state,” Schweizer added.
— The Star News Network (@TheStarNewsNet) February 9, 2022
“Schweizer added that the University of Pennsylvania is one of the worst offenders when it comes to unreported funds from the communist regime. Chinese donations to UPenn soared after it announced the ‘Biden Center,'” reports Breitbart News.
“In the three years before the announcement, the university received around $15 million. In the three years after, the total was close to $40 million. The latter number is $60 million from China if you include contracts,” Schweizer writes in his book.
“Some of those donors were anonymous, but declared donors included the state-owned China Merchants Bank, and a company called Cathay Fortune owned by ‘a secretive Chinese billionaire who appears to have strong links with the Communist Party’ named Yu Yong,” he continued.
“Action from the Biden administration is unlikely, as President Joe Biden recently made the president of the University of Pennsylvania, Amy Gutmann, his ambassador to Germany,” reports Breitbart News.
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