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Politics : Formerly About Advanced Micro Devices
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joseffy
To: longnshort who wrote (762044)1/7/2014 4:19:57 PM
From: FJB1 Recommendation  Read Replies (1) of 1576791
 
Rep. Alan Grayson faces a new year fraught with financial uncertainty, a one-two punch predicated on a bogus stock loan plan that sapped tens of millions of dollars from his expansive portfolio, as well as a newly publicized divorce.

According to the Orlando Sentinel, Lolita Grayson formally filed for divorce from her husband — the two had already separated — on Monday, petitioning the state for possession of the family home, “equitable distribution” of the family nest egg, alimony and child support.

Those assets helped the Florida Democrat land smack dab in the middle of our latest 50 Richest list; his roughly $18 million in stocks, $5 million-plus in cash and collection of luxury homes (two in Florida, one in Virginia and another in West Virginia) earned him the No. 21 spot this time around.

But it’s been a bumpy ride.

As reported by The Washington Post, the lawmaker has repeatedly been burned by bad investments, including a decadelong fleecing that relieved him of $18 million.

With divorce proceedings now officially under way, he might also soon have to say goodbye to the $1 million home he has in Orlando. He’ll likely be on the hook for living expenses for his four underage children. And he can thank Florida Gov. Rick Scott for keeping the controversial “ permanent alimony” provision on the books until now.
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