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Feds link GOP Senate hopeful Joe DioGuardi to Ponzi firm
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| Parent(s) |
Race
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| Contributor | Jason |
| Last Edited | Jason Oct 16, 2010 01:25am |
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| Category | Scandal |
| Media | Newspaper - New York Daily News |
| News Date | Tuesday, October 12, 2010 10:00:00 AM UTC0:0 |
| Description | U.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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