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The PJ Tatler

by
Bryan Preston

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December 10, 2013 - 6:53 am

Rep. Alan Grayson (D-FL) has reportedly lost $18 million in a Ponzi scheme.

McLEAN, Va. — U.S. Rep. Alan Grayson of Florida lost $18 million in a scheme that cheated him and about 120 other investors out of more than $35 million, according to court papers.

The Virginia man who ran the scheme, William Dean Chapman, was sentenced Friday in federal court to 12 years in prison. Prosecutors say Chapman used the money to fund a lavish lifestyle including a Lamborghini, a Ferrari and a $3 million home.

In most of the court papers, Grayson’s identity is protected — prosecutors say only that an elected official with the initials A.G. was the primary victim — but documents twice mention Grayson by name. The Democratic congressman on Monday confirmed he is the A.G. mentioned in the documents.

Nothing in the court papers suggests Grayson was anything but a victim of the scheme. Grayson, a former trial attorney, said he has had a long record for picking winning stocks, which formed the basis for his personal fortune.

In the House, he is known as one the most sharp-tongued critics of Republicans, once famously summarizing Republican’s health care plans as little more than wanting sick people to “die quickly.”

It’s tough to drum up any sympathy for the guy.

 

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.

Comments are closed.

Top Rated Comments   
1. You can't cheat an honest man.

2. "Grayson, a former trial attorney, said he has had a long record for picking winning stocks, which formed the basis for his personal fortune."
Insider Trading can be hard to prove.

3. Karma, gotta love it.
1 year ago
1 year ago Link To Comment
Amazing how some of the most vocal redistributionists seem to have large stashes for themselves. One wonders why he was investing the $18 million (presumably to make even more) rather than giving it all to the 'less fortunate.' Didn't he get the memo about 'after a certain point, you've made enough money?'
1 year ago
1 year ago Link To Comment
Wow, I have never experienced schadenfreude to this level before.
1 year ago
1 year ago Link To Comment
All Comments   (39)
All Comments   (39)
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The Progressives in BOTH parties are responsible for the biggest Ponzi scheme ever designed....Our Economy. I guess Grayson forgot what one looks like. Punked for 18m is a pretty strong reminder.
1 year ago
1 year ago Link To Comment
"Bulls make money, Bears make money, Pigs get slaughtered."
Jim Cramer
1 year ago
1 year ago Link To Comment
My favorite Christmas present so far!
1 year ago
1 year ago Link To Comment
You would think that somebody who has devoted his life to liberal ponzi schemes would be able to spot one when he sees one.

On the other hand, once you commit to something for nothing, how can you pass up another opportunity.
1 year ago
1 year ago Link To Comment
Grayson once referred to Sarah Palin as a "dingbat."

That may be, but somehow she didn't lose $18 million.
1 year ago
1 year ago Link To Comment
Broke quickly.
1 year ago
1 year ago Link To Comment
There is a god!!

Now, maybe he be an example of the inverse of his moniker.
1 year ago
1 year ago Link To Comment
I guess Grayson really means it when he talks about wealth redistribution.
1 year ago
1 year ago Link To Comment
This is what happens when you operate in the gray, son.
1 year ago
1 year ago Link To Comment
HAHAHAHAHAHAHAHAHAHAHAHAHA!

Couldn't happen to a more deserving yutz.
1 year ago
1 year ago Link To Comment
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