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To: Smartypts who wrote (70320)	4/19/2001 8:08:03 AM
From: StockDung	Respond to of 122087

Torricelli Denies Taking Illegal Gifts From Felon Newark, New Jersey, April 18 (Bloomberg) -- U.S. Senator Robert G. Torricelli denied accepting illegal gifts and cash from a convicted felon and insisted he never betrayed the public trust. Torricelli assailed a New York Times report that David Chang, who admitted funneling $53,700 to Torricelli's 1996 campaign, told investigators that he gave the New Jersey Democrat tens of thousands of dollars in cash, 10 Italian-made suits, an $8,100 Rolex watch, a 52-inch television and other gifts. Chang, a former commodities trader, is one of seven donors who has admitted illegally contributing to Torricelli's campaign and is cooperating with a U.S. Justice Department investigation of the senator's personal finances and 1996 campaign fund-raising. ``I do not have words to describe how angry I am at the circumstances in which I find myself,'' Torricelli said at a news conference. ``I recognize that American politics has become a blood sport. Anything goes, and it's a rough business. But recent events regarding the campaign finance investigation are now totally out of control.'' `Never' ``These issues of illegal activities are not only false, but unbelievable,'' he added. ``I have never, ever done anything at any time to betray the trust of the people of the state of New Jersey.'' Torricelli then shouted ``Never'' and slammed the podium with an open palm. Torricelli's six-minute statement offered his most detailed denunciation of Chang, an ex-friend who had lobbied him for help in recovering $71 million from the North Korean government for a shipment of grain in the early 1990s. Chang was indicted in January 2000 on charges of obstructing a campaign fund-raising grand jury in Newark, shredding documents and encouraging witnesses to lie. Prosecutors filed court papers that said he lied about his marriages, date of birth, passports and other personal details. After Chang pleaded guilty in June 2000 to the campaign finance violations and coaching a grand jury witness to lie, he began detailing his knowledge of Torricelli to investigators. The other donors who pleaded guilty also are cooperating, and three Torricelli aides have been told they may be indicted. The New York Times reported this month that Chang, a resident of Cresskill, New Jersey, had told investigators he tried to help Torricelli buy a Mercedes Benz car. The newspaper reported today that Chang told investigators he delivered $25,000 in cash to Torricelli's house in Englewood, New Jersey, in late 1996. The Times said an aide to Chang who also pleaded guilty, Audrey Yu, corroborated that account and said she delivered another $10,000 in cash in January 1997 to the senator. Chang also told investigators he bought suits for Torricelli, earrings for the senator's former girlfriend, Judy D. Balaban, and a Rolex watch that he gave the senator at a 1998 dinner, the Times reported. Torricelli said on a NBC television broadcast Sunday that investigators had searched his house. `Get Out of Jail' ``I want to make this clear: My reputation is not David Chang's opportunity to get out of jail free,'' Torricelli said at his news conference today. ``To challenge my integrity based on the claims of David Chang is beneath contempt. I do not deserve this treatment, and I will fight for my reputation with every ounce of strength in my body.'' Torricelli called on the U.S. Attorney's Office in Manhattan to end the investigation, which has been running for three years now. He also called Chang ``every elected official's worst nightmare.'' ``To have my integrity challenged by someone who is unknown, with no credibility, and to have that person taken seriously, is unconscionable,'' he said. ``The people of the New Jersey deserve to have this matter concluded, so we can all proceed with the public business.'' Torricelli delivered his statement at a downtown Newark office building and declined to answer questions from three dozen reporters. Apr/18/2001 18:26 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.

To: Smartypts who wrote (70320)	4/19/2001 8:10:24 AM
From: StockDung	Read Replies (1) \| Respond to of 122087

Senator Torricelli on US Probe of His Finances: Comment Newark, New Jersey, April 18 (Bloomberg) -- Following are comments at a news conference today by U.S. Senator Robert G. Torricelli responding to a New York Times report that a convicted felon told federal investigators that he gave the New Jersey Democrat tens of thousands of dollars in illegal gifts. ``I do not have words to describe how angry I am at the circumstances in which I find myself,'' Torricelli said. ``I recognize that American politics has become a blood sport. Anything goes, and it's a rough business. But recent events regarding the campaign finance investigation are now completely out of control. My integrity has now been challenged by an admitted felon whose perjurious acts include obstruction of justice and witness tampering. ``David Chang is every elected official's worst nightmare. He is awaiting sentencing on serious federal charges that will result in a lengthy prison incarceration. He has a history of false and even perjurious statements. Now, he will say anything to reduce his jail sentence. But I want to make this clear: My reputation is not David Chang's opportunity to get out of jail free. ``David Chang was my friend. We were friends for several years. Like the president of the United States, other members of Congress, and business associates, I believed David's representations. Now we know that everything about his life, from his marriage, addresses, places and dates of birth, and businesses, were complete fabrications. Indeed, none of us really know who David Chang really is, or what he is. Indeed, the single best commentary on David Chang's credibility came from government prosecutors themselves in federal court, and I quote: `David Chang cannot be trusted on his word.' `Beneath Contempt' ``To challenge my integrity based on the claims of David Chang is beneath contempt. I do not deserve this treatment, and I will fight for my reputation with every ounce of strength in my body. These issues of illegal activities are not only false, but unbelievable. I have heard about these unfounded allegations for the first time today through the news media, despite several years of investigation and conversations with my attorneys. ``I know that I have been an aggressive personality. I believe that I was elected to the United States Senate because I fight hard and I hold passionate beliefs. Perhaps I have earned some enemies in government and in politics. But I have never, ever done anything at any time to betray the trust of the people of the state of New Jersey. Never. `Virtual Audit' ``For three years the campaign task force has conducted a virtual audit of my 1996 campaign. I do not believe that any candidate for president of the United States, or anyone who has ever managed a similar United State Senate campaign could have withstood such an inquiry resulting in nothing more than a handful of commonplace regulatory issues. Seven people were found to have engaged in reimbursing contributions from among 20,000 campaign donors. Only one of those seven people, David Chang, despite numerous previous denials, now claims that I had knowledge of his activities. ``With the focus now on my personally, I have urged my attorney and friend, Ted Wells, to engage in an open dialogue with the United States Attorney's office in New York to answer every reasonable question possible. I want this matter resolved. I have lived with it for years. What happened today is not right, and it is not fair. Some of you have known me all of my life. To have my integrity challenged by someone who is unknown, with no credibility, and to have that person taken seriously, is unconscionable. The people of New Jersey deserve to have this matter concluded, so we can all proceed with the public business. ``I cannot tell you how much I would like to discuss the specifics of the investigation. My lawyers have already agreed to open a dialogue with the New York Southern District Attorney's office. They will discuss this investigation and these issues, directly with them and not with the news media. That's where the discussion should take place and unfortunately, cannot happen today through the news media. Thank you for being here. I ask for your fairness, and thank you for your consideration.'' Apr/18/2001 17:14 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.