Just got this from ODP.? I don’t normally post press releases in full, but this one’s a doozy.
COLUMBUS ? Today, the Ohio Democratic Party revealed a group of Josh Mandel’s campaign contributors with criminal financial histories. The State Representative and Republican candidate for State Treasurer has taken campaign cash from a man who pled guilty to paying $1 million in bribes to the New York Controller, a CEO of a company convicted of deceptive loan practices, and the Vice Chairman of a company that paid $250 million in fines to the SEC while losing $335 million in state pension funds.
In response to this pattern of reprehensible campaign contributions, Ohio Democratic Party Chairman Chris Redfern issued the following statement:
“Josh Mandel is cashing in from the same Wall Street fat cats whose greed led to the global recession and devastated our families on Main Street,” Redfern said. “Josh’s donors committed bribery, ravaged pension funds, and engaged in deceptive practices that forced people out of their homes.”
Redfern continued, “It really speaks to his judgment as a candidate for Treasurer of Ohio. How can we trust Josh Mandel to make wise financial decisions for our state when he collects campaign cash from crooks like these?”
Josh Mandel?s scandal-ridden supporters include:
Elliot Broidy, who pled guilty to bribery, contributed $13,000 to Mandel. [Ohio Secretary of State, Campaign Finance, Accessed 4/13/10; contributions made on 5/12/09, 10/21/08, 10/31/06 and 10/26/05]? Pled guilty to paying $1 million in bribes to New York Controller Alan Hevesi in a $250 million public pension fund scheme. [Investment Management Weekly, 12/14/09; Daily News (New York), 12/3/09] Frequently contributed to Mandel since allegations were made in 2007. [Daily News (New York), 7/9/07; Ohio Secretary of State, Campaign Finance, Accessed 4/13/10]
Brian Chisick, Founder and CEO of First Alliance, contributed $1,000 to Mandel. [Ohio Secretary of State, Campaign Finance, Accessed 4/13/10; contribution made 12/30/09]? Chisick is founder and CEO of First Alliance, a company that was sued by eight states and the federal government for deceptive loans, settling for $60 million [Orange County Register (California), 3/22/02; The American Banker, 3/22/02; Federal Trade Commission, 3/21/02] Company was found by courts to have engaged in deceptive business practices for home loans [New York Times, 3/15/00] Brian Chisick’s company paid $420,000 to settle allegations of racial discrimination loan practices [New York Times, 3/15/00]
Roger Hertog, Vice Chairman of Alliance Capital Management, contributed $11,300 to Mandel. [Ohio Secretary of State, Campaign Finance, Accessed 4/13/10; contributions made 7/28/09 and 09/21/09] Hertog was in “hot water” over Alliance Capital Management’s loss of $335 million in Florida?s state pension funds [Washington Monthly, 3/1/02]
Company settled with State of New York for $600 million for abusive trade practices and market timing schemes [Money Management Executive, 12/22/03; The Daily Telegraph (London), 12/19/03] Company paid $250 million in fines to settle SEC charges of improper trading [Investment News, 6/9/08] Company was Enron?s largest shareholder when the infamous company collapsed [Inside Counsel, 2/07]
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