A financial play that would have made Jean Chretien blush...The controversial move to outsource the funding to an organization that has close ties to the Trudeau family received a large amount of backlash among people in the charitable sector as well as the opposition conservatives.And what's the deal with all those numbered companies?
When defending the move, Prime Minister Justin Trudeau said WE received the work because it was the only organization that had a network capable of the nationwide distribution necessary to provide students with the funding.
RELATED: Let's dig a little deeper...
"WE Charity's audited financial statements reveal that it is in breach of certain financial covenants on its bank loans at August 31, 2018. WE Charity has $11.1m in bank loans and mortgages secured against various properties in Toronto."Apparently WE Charity needs a little extra time to work on it's books...
"However, the bank has waived the covenant requirements for the current period."
"This report concerns WE Charity's 2018 year. WE Charity has not yet posted its audited financial statements for the year ending August 2019. We have requested these statements from WE Charity so that we can update this information."LAST WORD: Ask a Kenyan WE employee
