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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTagg Romney's Company Misled Reporters About Its Relationship With Ponzi Scheme–Linked Firm
The private equity firm run by Tagg RomneyMitts eldest son, who is now taking a leadership role in guiding his fathers presidential campaignmisled reporters last year about its involvement with a company run by men accused of taking part in a multibillion-dollar Ponzi scheme.
Last year, I reported that Tagg had formed a business partnership with several North Carolina investors who are still facing a lawsuit for receiving bonus pay for selling CDs as part of the $8 billion Stanford Financial Group Ponzi scheme.
In a nutshell, Tagg helped these investors form a companycalled Solamere Advisors, a nod to Taggs firm Solamere Capitalshortly after their boss, Allen Stanford, was caught by law enforcement for his elaborate Ponzi fraud.
When I interviewed him in Las Vegas, Tagg told me that his associates were cleared of any wrongdoing associated with the Stanford Ponzi scheme. Court documents directly contradict Tagg and show that the lawsuit has not been dismissed.
More at link.
http://www.thenation.com/blog/170546/tagg-romneys-company-misled-reporters-about-its-relationship-ponzi-scheme-linked-firm
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how'd i miss this?
tosh
(4,423 posts)American Greed last night.
What a bunch of grifters. All of them.
malaise
(269,015 posts)100% sleaze - they should all be in prison
Faux pas
(14,681 posts)Have to see if they rerun it. Thanks for letting me know!
renate
(13,776 posts)Surely not!