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  Feds link GOP Senate hopeful Joe DioGuardi to Ponzi firm
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Last EditedJason  Oct 16, 2010 01:25am
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MediaNewspaper - New York Daily News
News DateTuesday, October 12, 2010 10:00:00 AM UTC0:0
DescriptionU.S. Senate hopeful Joe DioGuardi prides himself on his accounting expertise - but he has a history with a firm the feds say ran a $1.7 billion Ponzi scheme.

Medical Capital Holdings and its subsidiaries bilked investors out of $1 billion while sinking millions into a mega-yacht and Hollywood flop, a complaint filed last year by the Securities and Exchange Commission said.

From 2007 to 2009, the former Westchester Republican congressman was paid $5,000 a month as a consultant for the subsidiary Medical Capital Corp. - and also got $16,000 a year to sit on boards of various other MCH subsidiaries.

MCH managed the messy books for several of the companies involved in the so-called scheme and was named in the suit.
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