Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Wyclef Jean hires a new accountant

By Aaron Smith, CNNMoney.com staff writer


NEW YORK (CNNMoney.com) -- Yele Haiti, the non-profit formed by musician Wyclef Jean, said Friday that it hired an accounting firm in the wake of increased public scrutiny of its finances.

The organization's board of directors said that the firm RSM McGladrey will help the group set up a new bank account for its Haitian earthquake fund.

The announcement came days after Jean tearfully denied allegations that he misappropriated funds from his charity. The accusations emerged after the Haitian native returned to the U.S. following several days of relief work in Port-au-Prince in the wake of the recent earthquake.

The allegations stemmed from payments made by Yele Haiti toward businesses owned by Jean and another board member -- including a production company and recording studio. The non-profit also failed to file taxes for three years.

Hugh Locke, president of Yele Haiti, described the failure to file as a "mistake." The organization eventually caught up with its taxes, according to documents filed by Yele Haiti.

Tax experts told CNNMoney.com that the organization did not break any rules in paying businesses owned by board members for services, so long as it was not being overcharged.

Jesse Derris, a spokesman for Yele Haiti, said the non-profit will continue to use Grant Thorton LLP to assist with tax services.

The non-profit employed Grant Thorton in 2009 to help catch up with its filings. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.85%4.04%
15 yr fixed3.02%3.15%
5/1 ARM3.05%3.13%
30 yr refi3.93%4.15%
15 yr refi3.06%3.26%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,574.07 -24.13 -0.14%
Nasdaq 5,108.17 -7.21 -0.14%
S&P 500 2,096.70 -1.34 -0.06%
Treasuries 2.19 0.04 1.67%
Data as of 12:33pm ET
Company Price Change % Change
Apple Inc 115.04 -3.40 -2.87%
Baxter International... 40.62 1.11 2.81%
Bank of America Corp... 17.84 0.07 0.42%
Baxalta Inc 39.00 5.85 17.65%
Frontier Communicati... 5.20 0.05 1.07%
Data as of 12:18pm ET
Sponsors

Sections

Forget about the Hulk Hogan scandal. WWE fans are paying up to subscribe to the company's streaming network to watch its current stars. And the stock is surging. More

A group of hedge funds that owns Puerto Rican debt has told the island's government to close schools to help pay back its bonds. More

First 3D-printed drug approved by FDA is intended to treat seizures for patients suffering from epilepsy. More

Candle-Lite is committed to manufacturing in America -- which is a good thing because it contributes more than $300 million to Ohio's economy. More

You can't blame it on the economy anymore. More Millennials now have jobs, but are still living at home. More