Project Veritas founder James O’Keefe ousted in coup

Project Veritas' founder and CEO, James O'Keefe, has been suspended indefinitely from the company, as announced in a statement by its Board of Directors on Monday evening, in what many are now describing as a “coup” by the company’s board against its founder.

The statement outlined the reasons for O'Keefe's suspension, which included an investigation into alleged financial malfeasance and excessive spending of donor funds on personal luxuries.

According to the statement, the board had made numerous attempts to speak with O'Keefe in the last 14 days but were ignored. In the letter, the board also claimed to be concerned about staff retention, morale, and the company's long-term sustainability.

The statement detailed some examples of O'Keefe's alleged spending of donor funds, which included $14,000 on a charter flight to fix his boat, $60,000 in losses on dance events, and over $150,000 in black cars in the last 18 months, among others.

O'Keefe replied with a 45-minute video to fire back at the board, stating that he was not sure why he was being removed from the company, and that the only recent development was Project Veritas’ success in its sting operation on a Pfizer executive who was caught on camera allegedly discussing the “directed evolution” of the COVID virus.

Watch the full length video of James O'Keefe's speech to the journalists at Project Veritas. He was removed by the board of directors in a coup. The video is incredibly heartfelt and honest and exposes the dishonesty of the organization's new heads. pic.twitter.com/2tDkPP3j3S

— Ian Miles Cheong (@stillgray) February 20, 2023

Speaking through tears, O’Keefe spoke to a small audience of Project Veritas staffers about the trials and tribulations he faced in the organization’s early days and how it had become the investigation powerhouse it is today under his direction.

O’Keefe admitted that he had not been as sensitive to some of his coworkers as he could have been, but pushed back at the board’s claims of financial impropriety, noting that he had raised millions for the outfit and onboarded numerous whistleblowers.

The board said it had not finished its investigation into O'Keefe's alleged spending of donor funds but stated that he was suspended indefinitely pending the resolution of a full investigation and a third-party investigative audit report.

The board stated that O'Keefe unilaterally fired the CFO without board approval, violating the non-profit's bylaws, which led to his suspension. The board also said that O'Keefe had leaked private information to others and spent an excessive amount of donor funds in recent years. Despite the public fallout, the board wants to speak with O'Keefe and resolve internal matters privately.

The statement emphasized that the board has a legal obligation to comply with state and federal laws, and these matters are serious ones that cannot be ignored. The board said it did not want O'Keefe to resign, and it would like to continue conversations with him to resolve internal matters rather than litigate them publicly. The board's statement did not mention the Pfizer videos as a reason for O'Keefe's suspension.

News of the coup was not well-received by supporters of the organization.

On Twitter, Project Veritas lost around 200,000 of its then-1.4 million following, with many asking for the organization to show more transparency by releasing its recorded minutes of the final meeting between the company’s Board of Directors and O’Keefe.

Speculation remains rife on the real reason behind O'Keefe's ousting, with some suggesting that his expose of Pfizer may have played a major factor in the decision.