- Jul 2, 2003
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https://www.usatoday.com/story/mone...llegedly-siphoned-money-associates/925300002/
A new report paints an unflattering portrait of Commerce Secretary Wilbur Ross, depicting him as a businessman who may have improperly had a role in siphoning more than $120 million from business associates.
The conclusion stems from lawsuits, reimbursements and the findings from a Securities and Exchange Commission investigation that ended with a civil penalty, according to the Forbes magazine reportposted online Tuesday.
"If even half of the accusations are legitimate, the current United States secretary of commerce could rank among the biggest grifters in American history," the report said.
https://www.forbes.com/sites/danale...y-cabinet-conflicts-of-interest/#29697df07e87The conclusion stems from lawsuits, reimbursements and the findings from a Securities and Exchange Commission investigation that ended with a civil penalty, according to the Forbes magazine reportposted online Tuesday.
"If even half of the accusations are legitimate, the current United States secretary of commerce could rank among the biggest grifters in American history," the report said.
After weeks of investigation, Forbes found:
- For most of last year, Ross served as secretary of commerce while maintaining stakes in companies co-owned by the Chinese government, a shipping firm tied to Vladimir Putin’s inner circle, a Cypriot bank reportedly caught up in the Robert Mueller investigation and a huge player in an industry Ross is now investigating. It’s hard to imagine a more radioactive portfolio for a cabinet member......
- In addition, five days before reports surfaced last fall that Ross was connected to cronies of Vladimir Putin through a shipping firm called Navigator Holdings, the secretary of commerce, who likely knew about the reporting, shorted stock in the Kremlin-linked company, positioning himself to make money on the investment when share prices dropped.