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 fixed3.99%3.98%
15 yr fixed3.18%3.14%
5/1 ARM3.38%3.36%
30 yr refi4.01%4.02%
15 yr refi3.20%3.17%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 19,227.91 11.67 0.06%
Nasdaq 5,326.68 17.79 0.34%
S&P 500 2,209.46 4.75 0.22%
Treasuries 2.40 0.01 0.38%
Data as of 3:35pm ET
Company Price Change % Change
Bank of America Corp... 22.10 0.25 1.17%
Chesapeake Energy Co... 7.60 0.12 1.55%
Wells Fargo & Co 55.36 1.01 1.86%
Regions Financial Co... 14.22 0.21 1.46%
Apple Inc 109.68 0.57 0.52%
Data as of 3:20pm ET
Sponsors

Sections

Wells Fargo is the posterchild for misbehaving banks these days. But it's already pushing the incoming Trump administration for less scrutiny on the industry. More

U.S. businesses now expect to hire more workers and sell more stuff in the next six months because executives are optimistic about Trump's agenda. More

The Supreme Court ruled that it's possible a design patent only covers part of a product rather than all of it, meaning Samsung doesn't need to forfeit all profits from several products to Apple. More

At least 398 colleges have food pantries on campus to serve students. The hunger problem is beyond a few sad stories. More