Prosecutor begins investigation of left-wing dark money giant

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By Robert Schmad
Daily Caller News Foundation

Washington D.C. Attorney General Brian Schwalb subpoenaed records from Arabella Advisors and the network of liberal groups it manages as part of an investigation into reports alleging violation of tax laws, the Washington Free Beacon reported Tuesday.

Schwalb is seeking records that would shed light on whether Arabella illegally profited from the New Venture Fund, a nonprofit organization it manages, according to the Free Beacon. The attorney general also issued subpoenas relating to reports that allege the New Venture Fund used charitable funds to direct the partisan activities of Secure Democracy, a 501(c)(4) nonprofit that pushed lawmakers to expand mail-in voting in 2020 and 2021, according to the Free Beacon.

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Also being investigated are the North Fund and the Sixteen Thirty Fund, both of which bankroll liberal activist causes while being managed by Arabella, according to Influence Watch.

The North Fund spent millions to promote pro-abortion and anti-Electoral College groups as well as groups intent on expanding the Supreme Court, according to Influence Watch. It also gave $4.1 million to Somos PAC, which worked to get Democrats elected, in 2022.

The Sixteen Thirty Fund similarly works to facilitate liberal activism, according to Influence Watch. The group spent millions to defeat Donald Trump during the 2020 presidential election and operates liberal groups as projects, according to Influence Watch.

The Internal Revenue Service (IRS) had concerns dating back to 2006 that Arabella may have been illegally extracting profits from the New Venture Fund, the Free Beacon reported.

The IRS inquired about the New Venture Fund not taking competitive bids for administrative services before entering into a management contract with Arabella, the Free Beacon reported. These concerns were assuaged when the New Venture Fund said its contract with Arabella would expire after one year.

The New Venture Fund’s relationship with Arabella continued beyond what it had told the IRS, the Free Beacon reported. The nonprofit organization has paid Arabella $230 million for management services since 2006 and has raised billions in donations, according to the Free Beacon.

The D.C. attorney general is also investigating conservative legal activist Leonard Leo and his network of nonprofits, according to Politico. Leo told Axios in 2020 that his network of nonprofits was inspired by Arabella’s network.

Spokespeople for the New Venture Fund, Arabella Advisors and the Sixteen Thirty Fund told the Daily Caller News Foundation that they are complying with the attorney general and maintain that they did not break the law.

A spokesman for Arabella Advisors told the DCNF that the organization is “confident in the systems we have in place to ensure our business conforms with legal and regulatory requirements.”

The D.C. attorney general’s office did not immediately respond to a request for comment.

This story originally was published by the Daily Caller News Foundation.

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