Romney Family Investment Group Partnered With Alleged Perpetrators Of $8 Billion Ponzi Scheme

Well it seems some serious dirt has been dug up against your possible future president Mitt Romney.

thinkprogress.org... amere-ponzi/?mobile=nc

Mitt Romney, his son Tagg, and Romney’s chief fundraiser, Spencer Zwick, have extensive financial and political ties to three men who allegedly participated in an $8.5 billion Ponzi scheme. A few months after the Ponzi scheme collapsed, a firm financed by Mitt Romney and run by his son and chief fundraiser partnered with the three men and created a new “wealth management business” as a subsidiary

It seems they were selling fraudulent CD's to investors and made profits in excess of 1.6 million.

In 2009, prosecutors announced charges against the Stanford Financial Group, which managed a portfolio of $8.5 billion, for running a “massive, ongoing fraud” against its investors. The Ponzi scheme bust was one of the largest in recent history, second only to Bernie Madoff, who perpetrated a fraud estimated to be around $17 billion. The Stanford Ponzi scheme wiped out the savings of thousands, including many American retirees across the country. In Texas, 1290 people lost their retirement savings because of the Stanford Ponzi scheme; in Louisiana, several hundred reportedly suffered the same fate.

I'm interested to see if anything comes from this scheme. Just like with Madoff many hard working American families were swindled yet once again of their retirement and savings. So if Romney has any ties to this I think he should be disqualified immediately. I bet this is where his campaign funds are coming from, which makes it even worse.

The Romney campaign and the Romney family investment company are deeply entwined. A recent Boston Globe investigation found that top donors to the Romney campaign have invested into Tagg’s firm, and that Romney’s star campaign fundraiser, Spencer Zwick, doubles as a managing partner for Solamere Capital. The Romney campaign has paid Zwick’s firm, SJZ LLC, over $2 million in fees this year alone. Mitt Romney’s brother Scott Romney is listed as a senior advisor to Solamere Capital.

Heres a chart linking the players involved.




In repsonse to thinkprogress posting this article Romney's team had this to say. Not addressing the real issue just character assassinating the messenger!

In an e-mail to National Journal’s Chris Frates, the Romney campaign attacks ThinkProgress as “a left-wing blog with a highly partisan agenda.” The Romney campaign did not directly dispute any of our assertions. Rather, the Romney spokesperson called our story “false material.” The Romney campaign has not backed up Tagg Romney’s assertion that his Solamere Advisors partners were “cleared” of wrongdoing in connection to the Stanford Financial Group Ponzi scheme. We stand by our reporting.

And he promises to repeal new investor protection laws These politicians are freaking comical to say the least and no doubt criminals for sure! I personally don't think that anyone with that amount of wealth should be our president because they won't speak for the majority of Americans and only for the elite. Look at what has happened in NYC with Bloomberg. He has almost tripled his wealth and even gave himself a third term. I wouldn't need to be paid a salary either if I was using my political power for my personal investments and gains. The only interests he has are his own and the people who surround him even calling the NYPD his personal army. So check out the article and let me know what your opinions are.

reply to post by stigup


Bush had the same thing with his oil company that he sold......oh yeah right before they went under.....Then with criminal charges facing him, poof.....Daddy is president, so no more criminal charges....

This will get swept under the rug as usual......

I am 100% positive that there are many more skeletons in the Mitt Robme closet.

reply to post by stigup


Oh, this just makes him even more presidential material. Corrupt puppet. Ideal for powers to be. So many skeletons in his closet, the Capuchin catacombs seem half-empty.

There's an incredible "story" at the link below - Romney gets a big mention, it makes the above story look like peanuts.

Read it don't read it - but I my self like a good mystery, I've read it, I enjoyed reading it and will continue to read more until I'm satisfied that its total BS, I can't say that to myself at this moment.

The White Hats Report

Save it for a lazy Sunday moment.

Don't shoot the messenger (me in this instance)

Everyone knows Mitt "Ponzi Scheme" Robme cannot beat Obama. If Republicans weren't so stupid, they would get behind their best candidate.

It can still happen. Viva la Ron Paul revolutionne!