Meghan Markle finds herself at the center of a major crisis as her charity, the Archwell Foundation, faces serious allegations of money laundering and tax evasion.
The scandal unfolded after James Holt, the foundation’s executive director, resigned amidst mounting pressure from authorities and the public.
In a recent IRS 990 filing, which was made public on Archwell’s official website, it was revealed that the Beverly Hills-based organization raised a staggering $13 million in donations during 2021.
A significant portion of this amount, $10 million, came from a single generous benefactor.
However, the filing also shed light on the foundation’s spending habits, raising concerns about the allocation of funds and who truly benefited from them.
According to the document, only $163,085 was allocated towards salaries, which the Duke and Duchess of Sussex do not receive.
Furthermore, a mere $1,887 was attributed to grants and contributions to other organizations.
However, the foundation claimed to have spent a substantial $3,055,463 on travel, conferences, conventions, and meetings, leaving many questioning the purpose and beneficiaries of these expenses.
Speculation has arisen suggesting that the foundation served as a front for channeling funds towards the Sussexes’ personal expenses.
Allegations include funding their extravagant lifestyle in California, financing their multi-million dollar deals with Netflix and Spotify, and supporting their legal battles against the British media.
The filing also disclosed that the foundation retained a substantial $9,791,225 in net assets by the end of 2021, indicating that a significant portion of the donated funds had not been utilized.
This raises suspicions of hoarding or potential attempts to hide the money from both the IRS and the public eye.
Such actions could potentially violate tax laws, which require non-profit organizations to allocate at least 5% of their assets towards charitable purposes annually.
The scandal surrounding the Archwell Foundation has severely tarnished the reputation of the Sussexes, who have previously positioned themselves as advocates for social justice and humanitarian causes.
Critics have accused the couple of hypocrisy, greed, and dishonesty, prompting calls for an investigation into both their charity and their financial affairs.
Some even suggest that the couple should be stripped of their titles and privileges, facing criminal charges for alleged fraudulent activities.
The implications of this scandal are far-reaching, posing a significant threat to the Sussexes’ future endeavors and aspirations.
The foundation’s registration and tax-exempt status may now be in jeopardy, leaving the couple vulnerable to legal action and penalties from both authorities and donors.
Additionally, their relationships with partners and collaborators, such as Netflix and Spotify, could be compromised, as they may demand greater accountability and transparency.
In light of these developments, the Sussexes find themselves in urgent need of damage control.
They must directly address the scandal and the allegations, providing clear and credible evidence regarding the utilization of funds and the impact achieved.
Taking responsibility for any mistakes made, they must demonstrate genuine remorse and reaffirm their commitment to their causes.