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Judi Lynn

(160,545 posts)
Fri Oct 18, 2013, 04:02 AM Oct 2013

Ted Cruz Failed To Disclose Ties To Caribbean Holding Company

Source: Time

Ted Cruz Failed To Disclose Ties To Caribbean Holding Company

An old college friendship led to financial entanglement with a Jamaican private equity firm and a British Virgin Islands holding company. Neither was disclosed during his 2012 campaign.

By Massimo Calabresi Oct. 18, 2013

Texas Republican Senator Ted Cruz potentially violated ethics rules by failing to publicly disclose his financial relationship with a Caribbean-based holding company during the 2012 campaign, a review of financial disclosure and company documents by TIME shows. The relationship originated with a $6,000 investment Cruz made more than a decade ago in a Jamaican private equity firm founded by his college roommate.

When Cruz later reported the financial relationship in 2013, he failed to comply with Senate rules requiring full identification of the holding company and its location, triggering an inquiry by Senate Select Committee on Ethics staff and a second amended disclosure. After additional inquiries by TIME this week, Cruz said he is now in the process making further corrections to his disclosure.

Cruz told TIME Thursday that the initial failure to report the financial relationship was an oversight that he corrected last May on his own initiative in his first filing after his election to the Senate. “It was an omission that was inadvertent,” Cruz said.

He said the later amendment to the May filing was part of the normal interaction with Senate ethics committee staffers. “There is a routine back and forth with the staff with whom you file the report where they make inquiries,” Cruz says. He provided TIME with copies of a number of relevant documents supporting his explanation of the incorrect disclosures.



Read more: http://swampland.time.com/2013/10/18/ted-cruz-failed-to-disclose-ties-to-jamaican-holding-company/#ixzz2i3gNYZSA

51 replies = new reply since forum marked as read
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Ted Cruz Failed To Disclose Ties To Caribbean Holding Company (Original Post) Judi Lynn Oct 2013 OP
More proof Canuck Cruz is a Manchurian Candidate agent of Castro Adenoid_Hynkel Oct 2013 #1
His Daddy is a virulent Anti-Castro Poobah PeoViejo Oct 2013 #18
Is he? atreides1 Oct 2013 #19
Teddy is just an Opportunist PeoViejo Oct 2013 #21
Cruz a slinking slimey Ethic's Violator?! Cha Oct 2013 #2
$crew$ it is so. Amonester Oct 2013 #46
Whenever Ted Cruz opens his mouth, there's a 3/4 chance he's lying. jsr Oct 2013 #3
No! More like kydo Oct 2013 #8
Lying for the 'Greater Good.' PeoViejo Oct 2013 #22
I think you're going to see more of this leftynyc Oct 2013 #4
I've said this time and time again, BillyRibs Oct 2013 #5
Love the hat mention... Teabagger Cruz in his hat... IllinoisBirdWatcher Oct 2013 #26
Yep, he is going to be a bi-partisan project. nt bemildred Oct 2013 #10
PBO finally gets his dream of harmonious bipartisanship. n/t cosmicone Oct 2013 #13
This is likely a warning to Cruz from the Republicans Democat Oct 2013 #15
In the end they got Turbineguy Oct 2013 #6
I don't think this is a tax issue. hughee99 Oct 2013 #25
This, from the party that would call impeachment hearings on a (D) President for eating soup with Warren DeMontague Oct 2013 #7
EXTRA EXTRA READ ALL ABOUT IT... CRUZ OPENS MOUTH BornLooser Oct 2013 #9
Hopefully he'll join the ranks of batshit BachKKKKmann BumRushDaShow Oct 2013 #11
Republicon "Family Values." As usual. Berlum Oct 2013 #12
A Cruz line? tanyev Oct 2013 #14
in fact yuiyoshida Oct 2013 #16
Nice! nt. Rain Mcloud Oct 2013 #36
"Let me tell you something about that grease-ball. . ." DinahMoeHum Oct 2013 #17
K & R Scurrilous Oct 2013 #20
Didn't Gingrich leave because of an ethics violation after his shutdown katmondoo Oct 2013 #23
and there's always this: saluda Oct 2013 #24
Crazy Daddy Cruz obviously screwed his son up real good, and now we're all suffering for it. SunSeeker Oct 2013 #27
Welcome to DU gopiscrap Oct 2013 #39
This Caribbean Cruz should end well Blue Owl Oct 2013 #28
The only question being: is this the ashling Oct 2013 #37
FATCA him riverbendviewgal Oct 2013 #29
I read a much longer story with all ensuing documents, and while I think Cruz is a lying okaawhatever Oct 2013 #30
Don't be too sure VA_Jill Oct 2013 #32
I just looked up the guy from Jamaica, David Panton to answer my curiosity okaawhatever Oct 2013 #34
I don't care if friend is white, black or purple, Cruz lied on his disclosure forms wordpix Oct 2013 #43
KKKrook. nt onehandle Oct 2013 #31
The Tea Baggers would Cruzify Pres. Obama if he failed to disclose such an investment. The Senate SDjack Oct 2013 #33
Ted Cruz's wife.... AnneD Oct 2013 #35
The dominionist ties alone Iwillnevergiveup Oct 2013 #38
MOVE-ON PETITION-Arrest and Try House GOP Leadership for Sedition dawn frenzy adams Oct 2013 #40
In a related story, Romney-Lyin' Ryan Lines partners with Carnival-Cruz Lines: freshwest Oct 2013 #41
I don't know that focusing on one turd will help them out. toby jo Oct 2013 #42
Oooooohhh baby! Maybe Cruz will be out sooner than we think! Crowman1979 Oct 2013 #44
I almost want him to stay in, because he's screwing things up for the GOP so much. tofuandbeer Oct 2013 #45
Time for a perp walk!!! gopiscrap Oct 2013 #47
Failed? I think the word they were looking for was "Lied" tavalon Oct 2013 #48
I'm gonna need some popcorn - TBF Oct 2013 #49
The Manchurian candidate. Yo_Mama_Been_Loggin Oct 2013 #50
One has to know what "ethics" are in order to violate them ... Myrina Oct 2013 #51
 

Adenoid_Hynkel

(14,093 posts)
1. More proof Canuck Cruz is a Manchurian Candidate agent of Castro
Fri Oct 18, 2013, 04:10 AM
Oct 2013

His parents were sent to Canada to groom Ted for his ultimate mission of destroying the Republican Party.

jsr

(7,712 posts)
3. Whenever Ted Cruz opens his mouth, there's a 3/4 chance he's lying.
Fri Oct 18, 2013, 04:20 AM
Oct 2013
http://www.burntorangereport.com/diary/13332/ted-cruz-is-officially-one-of-americas-biggest-liars

A full 54 percent of Ted Cruz's statements have been rated "false" or "pants on fire" by PolitiFact. Another 20 percent are only "half true." That's 74 percent of Cruz's statements failing the truth test.

We're used to politicians lying to us, of course. But the frequency of Cruz's lies is actually staggering. Compare Cruz's 74 percent lying rate with Rick Perry's 48 percent and John Cornyn's 56 percent. Cruz is in rarified company with Michele Bachmann as one of this country's biggest political liars. Whenever Ted Cruz opens his mouth, there's a 3/4 chance he's lying.

Lying, of course, is mostly what Ted Cruz is known for. He's made a name for himself with McCarthy-ite accusations against Chuck Hagel, paranoid fantasies about our government shutting down golf courses and building "hobbit homes," deliberate Medicaid distortions, and general obstructionism.

And that ain't no lie.

kydo

(2,679 posts)
8. No! More like
Fri Oct 18, 2013, 06:13 AM
Oct 2013

100% of the time.

If his lips are moving he is lying.

Not 3/4's of the time 100% of the time. cruz wouldn't know the truth if it whacked him in the ass and made him breakfast with bacon even afterwards.

 

leftynyc

(26,060 posts)
4. I think you're going to see more of this
Fri Oct 18, 2013, 04:34 AM
Oct 2013

His party is furious with him and the money people want to make sure he's nowhere near the primaries in 2016 - they're going to do everything they can to bury him so I expect these kinds of stories are going to be dripping out over the next year to cripple him and make it so he wont be able to even campaign for others. Should be fun to watch.

 

BillyRibs

(787 posts)
5. I've said this time and time again,
Fri Oct 18, 2013, 04:56 AM
Oct 2013

The Crowd can go from following you to chasing after you at the drop of a hat. Oh and BTW Hey Edwardo, why are you running so fast and, Isn't that you hat on the ground behind you?

hughee99

(16,113 posts)
25. I don't think this is a tax issue.
Fri Oct 18, 2013, 11:51 AM
Oct 2013

Besides, people in congress don't go to jail for tax issues, just ask Charlie Rangel.

Warren DeMontague

(80,708 posts)
7. This, from the party that would call impeachment hearings on a (D) President for eating soup with
Fri Oct 18, 2013, 05:57 AM
Oct 2013

the wrong spoon.

DinahMoeHum

(21,794 posts)
17. "Let me tell you something about that grease-ball. . ."
Fri Oct 18, 2013, 08:36 AM
Oct 2013
". . .c***sucker. He is a snake, that's what he is. You turn your back on him, he'll stick it in. You don't trust a guy like that. . ."

"Frank Lopez" - Scarface (1983)(referring to drug kingpin "Sosa&quot



That is Ted Cruz, to a T.



SunSeeker

(51,571 posts)
27. Crazy Daddy Cruz obviously screwed his son up real good, and now we're all suffering for it.
Fri Oct 18, 2013, 12:37 PM
Oct 2013

Chilling article.

Welcome to DU, saluda!





ashling

(25,771 posts)
37. The only question being: is this the
Fri Oct 18, 2013, 05:52 PM
Oct 2013

Legionaires Cruz,

The Salmonella Cruz,

or the poop in a bag Cruz

since he is out to disable the CDC, we may get all three!

okaawhatever

(9,462 posts)
30. I read a much longer story with all ensuing documents, and while I think Cruz is a lying
Fri Oct 18, 2013, 02:22 PM
Oct 2013

cheating scumbag, I don't believe this was a bad as it seems. I hate to say this, but I wonder if there isn't a race element as well. It started with a 6k donation to a friend from school. (I believe it was Harvard, and the guy was a Rhodes scholar). This guy is from Jamaica. I assume he's black. He began an investment firm and Cruz signed on as one of the original advisors/officers and put in a small amount. He consulted periodically until his wife began working for GWB. At that time he sold his interest, was given 25k cash and a promissory note basically (I think it was shares in a company) for his interest. Cruz reported it, received a letter from the election commission that he was divested, and went on about his business. The company is now inactive, the guy moved to Atlanta, and I guess the promissory note was left out there accruing interest.
I have to say, it doesn't seem very suspicious (I'm sure he's done much, much worse) and I'm sure the rank and file Republicans are trying to discredit him, but I have to wonder why with this story. Maybe because it's so complicated they figure Repubs will just turn on him without asking questions, or is it something more nefarious? Do they figure that the racist tea baggers will find out about Cruz' black friend and then let their bigotry do the rest? Marsha Blackburn had much worse involving her campaign and the Repubs covered it up. Ditto Bachman with the Iowa thing. I have to wonder if their angle isn't something else.

VA_Jill

(9,983 posts)
32. Don't be too sure
Fri Oct 18, 2013, 03:04 PM
Oct 2013

that he's black just because he's from Jamaica. The right wing types from Jamaica, the sort that would be likely to work for GWB, are almost all white. Yes, there are white folks still in Jamaica. They have walled themselves off from the rank and file Jamaicans.

okaawhatever

(9,462 posts)
34. I just looked up the guy from Jamaica, David Panton to answer my curiosity
Fri Oct 18, 2013, 03:29 PM
Oct 2013

and found this in an article in the Atlanta Journal Constitution,

"David Panton is no stranger to trailblazing. He was the youngest member of his undergraduate class at Princeton University at the age of 20. Then, at Harvard Law School, he was one of two black presidents in the history of the prestigious Harvard Law Review. The other was President Barack Obama"


wordpix

(18,652 posts)
43. I don't care if friend is white, black or purple, Cruz lied on his disclosure forms
Sat Oct 19, 2013, 11:06 AM
Oct 2013

listing a company that no longer exists, etc. says to me he's laundered the money.

SDjack

(1,448 posts)
33. The Tea Baggers would Cruzify Pres. Obama if he failed to disclose such an investment. The Senate
Fri Oct 18, 2013, 03:09 PM
Oct 2013

should expel Rafael.

AnneD

(15,774 posts)
35. Ted Cruz's wife....
Fri Oct 18, 2013, 03:41 PM
Oct 2013

is a Regional manager at Goldman Sachs. I wonder how much money they made hedging bets that the US would default. Why isn't more made of this, esp with this pious sanctimonious ass hat. He doesn't take the insurance that the Senate gets because his wife's is better. And this from the guy that wants to get rid of Obamacare.

Iwillnevergiveup

(9,298 posts)
38. The dominionist ties alone
Fri Oct 18, 2013, 07:58 PM
Oct 2013

call for a massive hatchet job on Cruz in writing. Calling Greg Palast or Matt Taibbi.

dawn frenzy adams

(429 posts)
40. MOVE-ON PETITION-Arrest and Try House GOP Leadership for Sedition
Fri Oct 18, 2013, 09:15 PM
Oct 2013

Please, sign Move On's petition to try GOP Leadership for Sedition. Hopefully D.U. will do a thread on this.

http://petitions.moveon.org/sign/arrest-and-try-house?source=s.em.mt&r_by=5925702



 

toby jo

(1,269 posts)
42. I don't know that focusing on one turd will help them out.
Sat Oct 19, 2013, 10:33 AM
Oct 2013

I'd say it's more the widespread lack of backbone and intelligence that lets their mindset get driven over the cliff that should be their concern. Emotional thinkers. They'll spawn another Cruz if they ditch this one. Ryan will probably reprise his role with just a little less toxicity.

Still don't have their finger on the switch - hope they don't find it before 2014.

Crowman1979

(3,844 posts)
44. Oooooohhh baby! Maybe Cruz will be out sooner than we think!
Sat Oct 19, 2013, 11:51 AM
Oct 2013

Cross your fingers everyone at DU, because I smell a scandal with the possibility of resignation, termination and hopefully a felony conviction.

My future pity-party ensemble is rehearsing as we speak.

TBF

(32,064 posts)
49. I'm gonna need some popcorn -
Mon Oct 21, 2013, 10:52 AM
Oct 2013

I have a feeling the GOP is turning over every stone imaginable to bury this dude.

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