🧵 1/10 Thread 👇🏻
Congressman @Lancegooden is RIGHT: stealing from our veterans is a disgrace to humanity.
But this isn’t just “missing money.” It’s a calculated $270 MILLION heist from charities meant for Gold Star families, wounded warriors, and veteran mental health.
The full memorandum lays it out.
Congressman @Lancegooden is RIGHT: stealing from our veterans is a disgrace to humanity.
But this isn’t just “missing money.” It’s a calculated $270 MILLION heist from charities meant for Gold Star families, wounded warriors, and veteran mental health.
The full memorandum lays it out.
2/10
Mark Eric Patrick was the trusted tax counsel who BUILT the donor-advised fund structure for James Dondero’s charitable legacy.
In 2021 the charities handed him total control.
He repaid that trust by orchestrating a multi-step corporate burglary to steal everything.
This is straight-up fiduciary betrayal.
Mark Eric Patrick was the trusted tax counsel who BUILT the donor-advised fund structure for James Dondero’s charitable legacy.
In 2021 the charities handed him total control.
He repaid that trust by orchestrating a multi-step corporate burglary to steal everything.
This is straight-up fiduciary betrayal.
3/10
Step 1: Patrick secretly created a new Delaware LLC and a generic Cayman GP (“hard to find or track or trace” his own words).
He moved the entire $269+ million fund into entities he alone controlled WITHOUT telling the veteran-serving charities.
Step 1: Patrick secretly created a new Delaware LLC and a generic Cayman GP (“hard to find or track or trace” his own words).
He moved the entire $269+ million fund into entities he alone controlled WITHOUT telling the veteran-serving charities.
4/10
Step 2: He issued 318 new shares to his own sham one-man “charity” (DFW Charitable Foundation, registered out of his house).
Instantly diluted the real veterans charities from 100% ownership to 48.96%.
No notice. No consent. Pure theft of control.
Step 2: He issued 318 new shares to his own sham one-man “charity” (DFW Charitable Foundation, registered out of his house).
Instantly diluted the real veterans charities from 100% ownership to 48.96%.
No notice. No consent. Pure theft of control.
5/10
Step 3: He fired the normal NAV valuation and switched to a rigged DCF model with 99.29% discounts.
Same fund worth $269 million in Sept 2024?
Suddenly “worth” $536k.
He then “redeemed” the charities out for pennies, $800k total wired to their accounts while he kept the $270 million upside.
Step 3: He fired the normal NAV valuation and switched to a rigged DCF model with 99.29% discounts.
Same fund worth $269 million in Sept 2024?
Suddenly “worth” $536k.
He then “redeemed” the charities out for pennies, $800k total wired to their accounts while he kept the $270 million upside.
6/10
While doing this he paid HIMSELF $2.25 MILLION in six months + backdated $850k salary + massive bonuses.
All from money meant for veterans.
This wasn’t oversight. This was plunder.
While doing this he paid HIMSELF $2.25 MILLION in six months + backdated $850k salary + massive bonuses.
All from money meant for veterans.
This wasn’t oversight. This was plunder.
7/10
The Cayman court removed him, appointed liquidators, and found “fraudulent absconding” with $270 million.
U.S. charging memo already drafted: multiple counts of WIRE FRAUD (18 USC §1343) + conspiracy.
Interstate emails, bank wires, fake valuations, every element met.
The Cayman court removed him, appointed liquidators, and found “fraudulent absconding” with $270 million.
U.S. charging memo already drafted: multiple counts of WIRE FRAUD (18 USC §1343) + conspiracy.
Interstate emails, bank wires, fake valuations, every element met.
8/10
This isn’t gray-area finance.
It’s textbook federal wire fraud, abuse of position of trust, and sophisticated means.
Guideline range starts at 20+ years.
Patrick used bankruptcy court itself to launder the crime and get releases. Unbelievable.
This isn’t gray-area finance.
It’s textbook federal wire fraud, abuse of position of trust, and sophisticated means.
Guideline range starts at 20+ years.
Patrick used bankruptcy court itself to launder the crime and get releases. Unbelievable.
9/10
Every dollar stolen was earmarked for veterans, Gold Star families, and military causes.
Instead it’s sitting in Patrick-controlled entities.
Our heroes fought for this country. Patrick fought to rob them.
This cannot stand.
Every dollar stolen was earmarked for veterans, Gold Star families, and military causes.
Instead it’s sitting in Patrick-controlled entities.
Our heroes fought for this country. Patrick fought to rob them.
This cannot stand.
10/10
.@AGPamBondi @FBIDirectorKash
Congressman @Lancegooden has called for it.
America is watching.
Launch the IMMEDIATE DOJ + FBI criminal investigation NOW.
Indict. Seize the assets. Return every penny to our veterans.
No more delays. No more excuses.
.@AGPamBondi @FBIDirectorKash
Congressman @Lancegooden has called for it.
America is watching.
Launch the IMMEDIATE DOJ + FBI criminal investigation NOW.
Indict. Seize the assets. Return every penny to our veterans.
No more delays. No more excuses.
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