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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (292918)	2/17/2009 7:44:12 PM
From: Ruffian	Read Replies (1) \| Respond to of 793964

Accused fraudster gave big to Dems By KENNETH P. VOGEL \| 2/17/09 2:52 PM EST Updated: 2/17/09 6:06 PM EST Text Size: The Texas financier accused by the Securities and Exchange Commission Tuesday of “massive ongoing fraud” was a generous political donor who gave more heavily to Democrats. Since 2000, R. Allen Stanford, the chief of the Stanford Financial Group in Houston, his wife and company gave $2.2 million in political contributions – $1.7 million to Democratic candidates and committees – according to Federal Election Commission records. The most recent donation on record was $300,000 from Stanford Financial Group to the Democratic Governors Association, a so-called 527 group not subject to campaign contribution limits. Other big beneficiaries included the Democrats’ congressional campaign committees, which received $1.2 million over the years, and their Republican counterparts, which got $322,000, including a $28,500 personal donation last year to the National Republican Congressional Committee. Stanford and his companies gave $128,500 to the Republican National Committee, plus $2,000 to Sen. Richard Shelby (R-Ala.), $4,000 to Sen. Charles Schumer (D-N.Y.), $4,000 to Rep. Charles Gonzalez (D-Texas), $4,000 to Sen. John Cornyn (R-Texas) and $4,800 to the committees of Rep. Charles B. Rangel (D-N.Y.), among other contributions. The SEC accused Stanford and two associates of misrepresenting the safety and liquidity of more than $8 billion worth of certificates of deposit held in Antigua. Cornyn also reported that Stanford Financial Group paid $7,441.00 in travel, lodging and meal expenses to fly him and his wife to Antigua in November, 2004. The purpose of the trip was a “financial services industry fact-finding mission hosted by [a] constituent company with substantial operations on site,” according to a travel report that Cornyn filed with the secretary of the Senate. Stanford, who is a dual United States-Antigua citizen, was described by a Cornyn aide as “nothing more than a constituent.” “No one is above the law, and prosecutors should follow the facts, wherever they may lead,” Cornyn said in a statement. Read more stories in Lob