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Obama campaign to return accused Ponzi schemer's donation

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posted on Apr, 25 2012 @ 06:14 PM
Obama campaign to return accused Ponzi schemer's donation
4/25/12 4:44 PM EDT -- Politico

The Obama for president campaign is returning donated money from Shervin Neman who is under Federal scrutiny for alleged Ponzi scheming. He has donated to other Democratic politicians also.

Neman has been a visitor to the White House.

Other criminals have been involved in "bundling" efforts for the Obama campaign.


The Obama campaign will return the donations of an accused Ponzi schemer who is facing an SEC investigation, a campaign official confirms.

"With 1.8 million donors thus far, we constantly review those contributions for issues. In this particular case, we will be refunding the contributions and have placed the funds in escrow until a trusteeship or other appropriate place to return these funds is established given the interests of the investors," a campaign official told POLITICO.

Shervin Neman, a hedge fund manager in Los Angeles, stands accused by the SEC of defrauding members of his California Persian-Jewish community, the conservative Washington Free Beacon reports.

Obama has also returned money from Jon Corzine.

It's not the first donation that the campaign has returned. Obama bundler and former N.J. Gov. Jon Corzine is facing an investigation into the collapse of his investment firm MF Global. In February, the campaign had to remove bundler Ron Klein for lobbying because of a self-imposed pledge against accepting lobbyist donations. And the New York Times reported earlier this year that one of Obama's top bundlers had ties to a Mexican fugitive whose family was seeking a criminal pardon.

Lots of criminals donating money to the campaigns !!

I would think they would find someone else to give the money in a different name ?

Easier to hide the corruption that way !!

posted on Apr, 25 2012 @ 06:15 PM
Honestly, good for him. More than likely, this is a campaign tactic, as otherwise it would not have gotten out there for the public eye, but I applaud him for doing it anyway.

posted on Apr, 25 2012 @ 06:18 PM
aren't all the large banks a ponzy scheme, will he send back all their lobbying money as well?

posted on Apr, 25 2012 @ 06:21 PM
Romney should send all of his dirty money back as well.

Oh wait, he can't, then he'd be completely broke.

posted on Apr, 25 2012 @ 07:07 PM
Imagine that! The figurehead for a branch of the world's largest Ponzi scheme is giving back donations from another schemer!
I'm afraid it is a little too late Mr. Obama. To quote one of my all time movie lines, "You have been weighed, you have been measured and you have been found wanting"!

posted on Apr, 26 2012 @ 10:10 AM
reply to post by xuenchen

Glad the Obama campaign is returning the donation. If the Romney campaign returned the Millions they have collected from similair folks they would need to declare bankruptcy.

As of August 2011 the largest individual contributor Restore Our Future, the pro-Romney SuperPAC, was New York resident, 55 year old John Paulson who according to his Forbes profile is a self made billionaire who made his fortune from hedge funds.

In July of 2011, The Politico reported that Paulson became "famous for enriching himself by betting on the collapse of the housing industry." According to Wall Street Journal, Paulson personally made between $3 and $4 billion, “the largest one-year payday in Wall Street history.”

If a Billionaire who made Billions betting on the collapse of the American economy is the largest contributor to Romney...then what does that you about Romney?

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