Investigation reveals misuse by UN Global Fund

While controversy is not new to Bono's Product (RED) campaign, a new level of scrutiny has brought an entirely disappointing and discouraging amount of misuse of funds to the surface....

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Report: Corruption Plagues Charity Backed By Bono

As much as two thirds of some grants lost or misspent

By SARA DOVER

Celebrity do-gooder Bono can't be happy about this: the nonprofit he is raising millions of dollars for is plagued with fraud.

As much as two thirds of grants donated to celebrity-supportedGlobal Fund to Fight AIDS, Tuberculosis and Malaria have been lost in corruption, the Associated Press found.

The findings are a major blow to U2 frontman's goals for (Product) Red, the global charity brand he co-launched that donates a large portion of its proceeds to the organization to fight and raise awareness about AIDS.

Forged documents and improper bookkeeping indicate that a large percentage of the money in the $21.7 billion development fund was lost or embezzled, investigators told the Associated Press. And so far, the inspector general's office has only examined a fraction of the $10 billion spent since the organization began in 2002. ...

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