U.S. Attorney Robert Capers details charges in an indictment against Platinum Partners hedge fund chief investment officer Mark Nordlicht and six others in a $1 billion fraud case. (AP Photo/Bebeto Matthews)
Hedge fund Platinum Partners operated “like a Ponzi scheme,” according to the U.S. Attorneys Office in the Eastern District of New York.
Source: Platinum Partners turns to brass
Uh-oh. Bernie Madoff all over again?
That’s what federal prosecutors are alleging in the case of Platinum Partners, a hedge fund that operated “like a Ponzi scheme,” according to a 48-page indictment released today by the U.S. Attorneys Office in the Eastern District of New York. The document charges seven men, including Platinum’s founder and its president, with running a multiyear fraud, even though the firm purported to have one of the best records in the industry, for years claiming double-digit returns for its investors. … read more.
Kellyanne Conway’s firm, The Polling Company, is one of almost 400 vendors employed by both a candidate and the super PAC supporting that candidate. (Anthony Behar / Pool)
An OpenSecrets Blog analysis found that a total of 66 single-candidate super PACs hired the same vendors or staff as the candidates they backed.
Source: Candidates and their super PACs sharing vendors more than ever
For some 2016 candidates, there was a lot of sharing during the campaign season — more than ever before. It wasn’t due to an epidemic of altruism, though; in fact, it might have been quite the reverse.
The sharing was between candidates and the super PACs devoted to promoting them. An OpenSecrets Blog analysis found that a total of 66 single-candidate super PACs hired the same vendors or staff as the candidates they backed.
… read more
Sen.-elect Todd Young (R-Ind.) received more than any other candidate from lawmakers’ campaign committees and leadership PACs along with party committees. (AP Photo/Michael Conroy)
Candidate to candidate giving was common in 2016, but wasn’t a guarantee of victory for lawmakers.
Source: Big sums from lawmakers sitting pretty to those in need — but victory not a given
With control of the Senate and possibly the House at stake — or so it seemed until close to Election Day — the word went out from the Democratic and Republican parties to lawmakers: If you’re not running this time, or if you’re sitting on a pile of cash, share the love. Priority races were flagged, and those who could were expected to ante up.
Still, while being on the receiving end of those funds was far better than the alternative, it didn’t guarantee victory.
read more – https://www.opensecrets.org/news/2016/12/big-sums-sitting-pretty-lawmakers-in-need/