Schweizer catches U.S. schools failing to report financial donations from communist China

Breitbart News reports that Peter Schweizer, the bestselling investigative journalist, just dropped another bombshell.

According to Schweizer, many U.S. colleges and universities – including top schools – are receiving big-time financial donations from communist China, yet they are not reporting these donations as required by federal law. 

This is one of Schweizer’s findings from his new book, Red-Handed: How American Elites Get Rich Helping China Win.

What’s he talking about?

The specific law is Section 117 of the 1965 Education Act.

According to Schweizer, the law says that “if U.S. colleges and universities take in foreign donations, substantial foreign donations, they are required to report those to the federal government.”

Schweizer, though, told Star News Network, that he has found that there are many U.S. colleges and universities that are not adhering to this law. And, two examples, that may surprise some, are Yale and the University of Pennsylvania.

A closer look

With regard to Yale University, Schweizer said that it has received millions of dollars from Joseph Tsai, the co-founder of Alibaba. Yet, the donation is being kept under wraps.

Schweizer said:

He’s donated hundreds of millions of dollars to Yale. He says that they come from his foundation based in California. The problem is, when you look at the foundation based in California, it lists, really, no assets, and certainly doesn’t mention any gifts going to Yale.

Another example is the University of Pennsylvania. According to Schweizer, it is one of the worst violators of Section 117.

Schweizer writes in Red-Handed: 

In the three years before the announcement [of UPenn’s “Biden Center”], the university received around $15 million. In the three years after, the total was close to $40 million. The latter number is $60 million from China if you include contracts. Some of those donors were anonymous, but declared donors included the state-owned China Merchants Bank, and a company called Cathay Fortune owned by “a secretive Chinese billionaire who appears to have strong links with the Communist Party” named Yu Yong.

What’s the big deal?

Schweizer didn’t just expose this connection between U.S. schools and money from communist China. He also highlighted part of the problem with the arrangement.

He said:

The problem is that a lot of these donations to colleges and universities come with strings attached, and those strings attached can be subtle, but they’re direct and real, and I think it’s having a major effect on the conversation on China that’s taking place today on college campuses.

Latest News