Forum Post: Foreign Cash Disqualifies Romney from Presidential Bid
Posted 11 years ago on Aug. 14, 2012, 4:19 a.m. EST by minhaalmaa
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Foreign Cash Disqualifies Romney from Presidential Bid "Using foreign contributions in any American election is a felony." http://www.veteranstoday.com/2012/08/12/foreign-cash-disqualifies-romney-from-presidential-bid/
Supreme Court Retains Ban on Foreign Campaign Donations Jan 9th 2012 http://legalnews.findlaw.com/article/0bPp8su4vWgH1
Romney brings in $1 million at Israel fundraiser - http://news.yahoo.com/blogs/ticket/romney-brings-1-million-israel-fundraiser-075809859.html
Mitt Romney Comments At Fundraiser Outrage Palestinians - http://www.huffingtonpost.com/2012/07/30/mitt-romney-palestinians_n_1718496.html
Is Romney going to be held accountable?
UPDATE: Peregrine CEO Indicted on 31 Counts of Lying to Regulators -US
--Peregrine CEO faces up to 155 years' imprisonment on the charges
--Executive allegedly falsified reports to regulators over two-year period
--No date set for arraignment on the charges, says U.S. Attorney's office
(Updates with additional details on indictment.)
By Jacob Bunge
The chief executive of Peregrine Financial Group Inc. was indicted Monday on 31 charges of lying to government regulators regarding the failed brokerage's operations.
Russell Wasendorf Sr. faces a maximum sentence of 155 years' imprisonment on the charges and fines of about $7.75 million, according to a statement from the U.S. Attorney's Office for the Northern District of Iowa. Mr. Wasendorf was arrested July 13 on charges of lying to regulators regarding his firm's finances. The arrest followed a suicide attempt on July 9, when he left a confession that authorities say detailed a nearly 20-year fraud against Peregrine's customers.
Regulators have estimated that about $215 million in customer money is missing from a bank account. Peregrine filed for bankruptcy July 10.
The charges contained in Monday's indictment cover 31 instances between February 2010 and June 2012 in which Mr. Wasendorf was responsible for false reports submitted to the U.S. Commodity Futures Trading Commission, according to the assistant U.S. attorneys prosecuting the case.
Authorities pursuing the charges allege that Mr. Wasendorf used printers, faxes and scanners to fool regulators for nearly two decades while he used Peregrine customer money to cushion the firm's finances, pay regulatory fines and construct a new headquarters in Cedar Falls, Iowa.
The indictment follows testimony given Monday in the case before a grand jury in Cedar Rapids, Iowa. Slated to testify were Russell Wasendorf Jr., Peregrine's president and chief operating officer, and Brenda Cuypers, the firm's chief financial officer, according to people familiar with the matter.
Nick Iavarone, a lawyer who is representing the younger Mr. Wasendorf, has said that his client has fully cooperated with authorities probing the matter and had no knowledge of the fraud carried out by his father.
No date has yet been set for Mr. Wasendorf to be arraigned on the charges, according to a statement from the U.S. Attorney's Office. Should Mr. Wasendorf be released from imprisonment following a conviction, he would face 93 years of supervised release, according to the statement from the U.S. Attorney's office.
-Write to Jacob Bunge at jacob.bunge@wsj.com