Meanwhile, back at the ranch…
Former DNC Chairman Terry McAuliffe, the current Democratic nominee for Governor of Virginia, chose not disclose his investment into an insurance scheme run by a businessman [Joseph Caramadre] who was stealing the identities of terminally ill patients on his Virginia Board of Elections Statement of Economic Interest during his 2009 run for Governor.
According to his spokesman Josh Schwerin, McAuliffe invested $33,000 into the annuity system from which he received $80,000 back. Last week McAuliffe donated $47,000 to the American Cancer Society, the equivalent of the profit he made from the short term investment. (McAuliffe also donated an additional $27,000 which was the equivalent of campaign donations received from Caramadre)
Republicans believe McAuliffe is guilty of a serious ethics violation for not disclosing the investment. In part- because the indictment filed against Caramadre indicates that McAuliffe (correctly listed as “T.M” on page 57 of the indictment) received a check for $113,057.
In a letter to the Chairman of the State Board of Elections, Republican Party of Virginia Chair Pat Mullins asks for an explanation for the difference between the check in the indictment and the level of profit McAuliffe claims to have received.
I wait with some interest to hear where the rest of that money went, myself. Also: Terry McAuliffe racks up shady deals and funding scandals like nobody’s business, doesn’t he? – And he never seems to know anything about anybody, any time. The poor man needs to make an appointment with a competent ophthalmologist, and right quick.
PS Ken Cuccinelli for Virginia Governor. McAuliffe is a sleazeball, sure – but he’s a very well-heeled one.
PPS: This isn’t that highly bizarre, not to say dreadfully embarrassing, AP story that got retracted a few days ago. There’s no evidence that Terry McAuliffe knew that the money-doubling, short-term annuity thing that he was investing in was being fueled by wire fraud… which says a lot about the circles that the man runs in, huh? I’m not being cute, here: that kind of return on that kind of notice should have set off an alarm bell. In a fair system, you generally make lots of money off of risk: high-return, low-risk investments pretty much scream ‘shenanigans.’