Madoff was major Democratic campaign contributor
Posted: 09:45 AM ET
December 17, 2008
politicalticker.blogs.cnn.com
(CNN) – Alleged Ponzi scheme mastermind Bernard Madoff has been a major political donor, directing hundreds of thousands of dollars to Democratic lawmakers over the past two decades.
Since 1991, Madoff and other individuals connected with Bernard L. Madoff Investment Securities made campaign contributions totaling $372,100, with about 89 percent of those funds directed to Democrats, according to OpenSecrets.org, the Web site of the Center for Responsive Politics. The majority of the senators and representatives who benefited from these donations were New York-area legislators.
In 2008, Madoff contributed $50,000 to the Democratic Senatorial Campaign Committee, pushing his total donations to the group since 1992 over the six-figure mark.
Madoff was arrested last week, charged with operating a fraudulent money-management business which has cost investors and charitable groups billions of dollars.
It is unclear whether Democratic lawmakers will return all contributions.
Madoff contributed to Hillary Clinton’s Senate campaign, but there’s no record of donations to any of this year’s Democratic presidential candidates, including the secretary of state-designate.
Other major beneficiaries of Madoff’s donations include the Securities Industry and Financial Markets Association. Over the past decade, his company has also spent nearly $600,000 on lobbying. |
