A new investigative report highlights concerns about a nonprofit organization supporting President Donald Trump’s “war on fraud,” alleging that some of its top leaders have faced serious accusations of misconduct and financial wrongdoing.

The State Financial Officers Foundation, which includes state auditors and treasurers and has publicly backed the administration’s anti-fraud initiatives, has come under scrutiny following reporting by The Lever.According to the report, the organization’s board president, Seth Metcalf, a former Ohio deputy treasurer, is facing corruption allegations.Whistleblowers claim he was involved in efforts to steer approximately $65 billion from Ohio’s teachers’ pension fund toward his investment firm.

A court ruling cited in the reporting described pension board members as being heavily influenced by Metcalf, and he has also been linked to separate fraud and mismanagement lawsuits involving an artificial intelligence startup.The foundation’s vice chair, Adam Crum, also faces accusations related to his time as Alaska’s revenue commissioner.

He allegedly attempted to redirect $75 million in state reserve funds into a private equity investment, a move criticized by a state lawmaker as excessively risky.

Additional reporting suggests Crum approved millions in consulting contracts tied to a firm that sponsored a luxury event connected to the organization.The article further notes criticism from state officials and auditors who argue the group has exaggerated fraud statistics.Some Democratic leaders have described its claims as inflated or misleading.

The report places these controversies in the broader context of the Trump administration’s aggressive fraud enforcement efforts, including cuts to public programs and expanded investigations.

Overall, the findings raise questions about the credibility and integrity of an influential advocacy group that has played a visible role in shaping messaging around federal and state anti-fraud policies.