Tag Archives: insider trading

Grifters gotta grift: the Trump swamp (updated)

Why has this crook not already resigned, or been fired? Oh that’s right, he works for America’s premier grifter, Donald Trump.

Dan Alexander at Forbes reports on Secretary of Commerce Wilbur Ross robbing his clients blind to build his fortune. New Details About Wilbur Ross’ Business Point To Pattern Of Grifting:

A multimillion-dollar lawsuit has been quietly making its way through the New York State court system over the last three years, pitting a private equity manager named David Storper against his former boss: Secretary of Commerce Wilbur Ross. The pair worked side by side for more than a decade, eventually at the firm, WL Ross & Co.—where, Storper later alleged, Ross stole his interests in a private equity fund, transferred them to himself, then tried to cover it up with bogus paperwork. Two weeks ago, just before the start of a trial with $4 million on the line, Ross and Storper agreed to a confidential settlement, whose existence has never been reported and whose terms remain secret.

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There are bigger allegations. Over several months, in speaking with 21 people who know Ross, Forbes uncovered a pattern: Many of those who worked directly with him claim that Ross wrongly siphoned or outright stole a few million here and a few million there, huge amounts for most but not necessarily for the commerce secretary. At least if you consider them individually. But all told, these allegations—which sparked lawsuits, reimbursements and an SEC fine—come to more than $120 million. If even half of the accusations are legitimate, the current United States secretary of commerce could rank among the biggest grifters in American history.

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The Price is Right: Tom Price resigns over use of charter flights

The New York Times breaks the Friday news dump story that embattled Health and Human Services Secretary Tom Price has resigned under pressure on Friday after racking up at least $400,000 in travel bills for chartered flights. Don’t let the door hit you in the ass on your way out. Health Secretary Tom Price Resigns After Drawing Ire for Chartered Flights:

Already in trouble with Mr. Trump for months of unsuccessful efforts to repeal and replace President Barack Obama’s health care program, Mr. Price failed to defuse the president’s anger over his high-priced travel by agreeing to pay a portion of the cost and expressing “regret” for his actions.

In a statement, the White House said that Mr. Price “offered his resignation earlier today and the president accepted.”

It said Mr. Trump will tap Don J. Wright of Virginia to serve as acting secretary at midnight Friday. Mr. Wright currently serves as the deputy assistant secretary for health and as director of the Office of Disease Prevention and Health Promotion.

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