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
Adenoid_Hynkel
(14,093 posts)His parents were sent to Canada to groom Ted for his ultimate mission of destroying the Republican Party.
PeoViejo
(2,178 posts)The Batista Gang wants Cuba back.
atreides1
(16,079 posts)Or is it just an act?
PeoViejo
(2,178 posts)with a very active Messiah complex.
Cha
(297,307 posts)Say it isn't so.. or Not!
Amonester
(11,541 posts)Cruz scRews.
It's written in his own name!
jsr
(7,712 posts)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.
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.
PeoViejo
(2,178 posts)It's a fixture of their Philosophy.
leftynyc
(26,060 posts)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)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?
IllinoisBirdWatcher
(2,315 posts)bemildred
(90,061 posts)cosmicone
(11,014 posts)Democat
(11,617 posts)They are reminding him of who's the boss.
Turbineguy
(37,343 posts)Al Capone on tax evasion. Whatever works.
hughee99
(16,113 posts)Besides, people in congress don't go to jail for tax issues, just ask Charlie Rangel.
Warren DeMontague
(80,708 posts)the wrong spoon.
BornLooser
(106 posts)Fictions at 11
BumRushDaShow
(129,096 posts)with a parade of ethics investigations.
Berlum
(7,044 posts)Right out of the cesspool (R).
tanyev
(42,566 posts)yuiyoshida
(41,832 posts)A Caribbean Cruz line!
Rain Mcloud
(812 posts)DinahMoeHum
(21,794 posts)"Frank Lopez" - Scarface (1983)(referring to drug kingpin "Sosa"
That is Ted Cruz, to a T.
Scurrilous
(38,687 posts)katmondoo
(6,457 posts)saluda
(2 posts)lets not forget, we are the one's who's all wrong!
SunSeeker
(51,571 posts)Chilling article.
Welcome to DU, saluda!
gopiscrap
(23,761 posts)Blue Owl
(50,423 posts)ashling
(25,771 posts)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!
riverbendviewgal
(4,253 posts)IRS should audit him since that investment. He is a tax cheat.
okaawhatever
(9,462 posts)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)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)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)listing a company that no longer exists, etc. says to me he's laundered the money.
onehandle
(51,122 posts)SDjack
(1,448 posts)should expel Rafael.
AnneD
(15,774 posts)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)call for a massive hatchet job on Cruz in writing. Calling Greg Palast or Matt Taibbi.
dawn frenzy adams
(429 posts)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
freshwest
(53,661 posts)toby jo
(1,269 posts)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)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.
tofuandbeer
(1,314 posts)gopiscrap
(23,761 posts)tavalon
(27,985 posts)TBF
(32,064 posts)I have a feeling the GOP is turning over every stone imaginable to bury this dude.
Yo_Mama_Been_Loggin
(108,033 posts)Myrina
(12,296 posts)Rafael Theodor doesn't qualify.