The Planet Aid money machine

Five ways we think Planet Aid Inc and related enterprises move money from old clothes and ‘humanitarian donations’ into the Teachers Group’s offshore bank accounts, based on analysis of public documents. They are: keeping unreasonably large amounts for ‘administration’ costs; using massive grants from international agencies (like the USDA) as cover for diverting money from clothes sales; paying six per cent of charity income into a Swiss account; using a wholly-owned US clothes broker (a sister company) to cream off money from sales; and paying interest on loans – there are several unexplained loans in Planet Aid’s accounts.
We also believe it is likely Planet Aid ‘pays itself’ for the supply of its metal collection boxes through companies in China. And, of course, all the money that Planet Aid does send to Africa is shipped out directly to its own ‘Teachers Group’ subsidiaries in far-away Africa, or paid into TG bank accounts as supposed ‘salaries’ for TG ‘aid workers’ abroad, who actually work for nothing.
Hot money: the Planet Aid money machine
Our dossier on the Teachers Group
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