Obama among politicians who haven't returned Stanford contributions

Obama among politicians who haven't returned Stanford contributions




National fundraising committees for the Democratic and Republican parties, President Barack Obama and other major politicians have declined to return campaign donations totaling $1.8 million from financier R. Allen Stanford, who's on trial in Houston for allegedly masterminding a $7 billion Ponzi scheme, Reuters reports. The court-appointed receiver charged with returning money to Stanford investors obtained a federal court order last June against five Democratic and Republican campaigns. But they haven't returned the money. The Democratic Senatorial Campaign Committee received $950,500; the National Republican Congressional Committee, $238,500; the Democratic Congressional Campaign Committee, $200,000; the Republican National Committee, $128,500; and the National Republican Senatorial Committee, $83,345. The contributions to the campaign committees and candidates were given by Stanford himself, Stanford executives and a political action committee associated with the financier. The receiver is also trying to claw back money Stanford donated to individual politicians. The list of his recipients reads like a who's who of Washington, including Obama, who received $4,600 from Stanford in his 2008 election campaign; Rep. Pete Sessions, R-Texas, the chairman of the NRCC; and Sen. John Cornyn, R-Texas, the chairman of the National Republican Senatorial Campaign Committee. Get all the details from the full story here.



comments powered by Disqus