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big-time embezzler fundraises for McCain

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Enrique Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-09-08 01:59 PM
Original message
big-time embezzler fundraises for McCain
Edited on Wed Jul-09-08 01:59 PM by Enrique
no, not Cindy...

http://blogs.abcnews.com/theblotter/2008/07/for-mccain-anot.html

A former investment banker who admitted to "loaning" himself millions from his client's accounts without their knowledge is a fundraiser and donor for John McCain's presidential campaign and the Republican party.

In a 2006 interview with the Willamette Week newspaper, onetime Oregon venture capitalist Craig Berkman said that between 1998 and 2001 he borrowed $5 million from the investors whose funds he controlled, and failed to tell "most" of them what he had done.

Still, "I was a good steward of investors' funds," Berkman told the paper's reporter.

A two-year suit against Berkman was decided last month when a jury found he had defrauded investors and ordered him to pay them $28 million.

Berkman, a former chairman of the Oregon GOP, co-hosted a $1,000-a-plate fundraising luncheon for McCain in January, and has donated $4,600 to McCain’s campaign, the maximum allowable by law, the paper reported today.

In a March filing in his trial, Berkman said he owed debts of $12.5 million beyond what he was actually worth. Two months later, Berkman gave the Republican National Committee $23,900.

(...)
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