I wish I complained more about the WE (formerly known as Free the Children) charity in the past and more bad news is coming out about it.  For some reason WE has invested heavily in Toronto real estate, money is flowing from the charity to the private corporation, they’re broke and oh they’re not in compliance with their bank covenants.

When you build a hospice, when you build a homeless shelter, you will go into debt very often and you will have a long term mortgage with regularly scheduled payments. But all of WE Charity’s debt was short-term, revolving, demand loans, at the beck and call of the banks. But it was the amount of debt on these properties. And it was always changing. So we always looked at the debt levels.

And then in 2018, the auditor flagged for the first time that WE Charity was in breach of its bank covenants. That is a massive, massive red flag. I have never seen that on any other charity in its audited financial statements.

Source: Canadaland

Canadaland broke the initial WE story and before you call it a right wing propaganda outlet, it’s actually center left.  These guys have a lot of debt, another big chunk is due in Oct and man it’s all shady.  To be fair I have a bias, I’ve hated this charity for a long time.  From their stupid rock concert type gatherings that cost a lot of money to the cult of personality behind the Kielburgers, it always looked like bad news to me.

Oh and you know the $250k that Margaret Trudeau got for speaking? Well the amount has increased to $312k now.  Can’t these idiots just come clean for once, now they have even less credibility when they speak, why would we believe the Liberals on anything they say about the WE charity?  This is the corruption that’s our system has and heads need to roll, starting with the PM.