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Report: Commerce Secretary Wilbur Ross allegedly helped siphon money from associates
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<blockquote data-quote="FreeinChrist" data-source="post: 73052663" data-attributes="member: 8879"><p><a href="https://www.usatoday.com/story/money/2018/08/07/forbes-report-commerce-secretary-wilbur-ross-allegedly-siphoned-money-associates/925300002/" target="_blank">https://www.usatoday.com/story/money/2018/08/07/forbes-report-commerce-secretary-wilbur-ross-allegedly-siphoned-money-associates/925300002/</a></p><p></p><p style="margin-left: 20px">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.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">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 <a href="https://www.forbes.com/sites/danalexander/2018/08/06/new-details-about-wilbur-rosss-businesses-point-to-pattern-of-grifting/" target="_blank">Forbes magazine report</a>posted online Tuesday.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">"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.</p> <p style="margin-left: 20px"></p><p><a href="https://www.forbes.com/sites/danalexander/2018/06/18/lies-china-and-putin-solving-the-mystery-of-wilbur-ross-missing-fortune-trump-commerce-secretary-cabinet-conflicts-of-interest/#29697df07e87" target="_blank">https://www.forbes.com/sites/danalexander/2018/06/18/lies-china-and-putin-solving-the-mystery-of-wilbur-ross-missing-fortune-trump-commerce-secretary-cabinet-conflicts-of-interest/#29697df07e87</a></p><p></p><p style="margin-left: 20px">After weeks of investigation, <em>Forbes </em>found:</p> <p style="margin-left: 20px"></p> <ul style="margin-left: 20px"> <li data-xf-list-type="ul">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......</li> </ul> <ul style="margin-left: 20px"> <li data-xf-list-type="ul">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.</li> </ul></blockquote><p></p>
[QUOTE="FreeinChrist, post: 73052663, member: 8879"] [URL]https://www.usatoday.com/story/money/2018/08/07/forbes-report-commerce-secretary-wilbur-ross-allegedly-siphoned-money-associates/925300002/[/URL] [INDENT]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 [URL='https://www.forbes.com/sites/danalexander/2018/08/06/new-details-about-wilbur-rosss-businesses-point-to-pattern-of-grifting/']Forbes magazine report[/URL]posted 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. [/INDENT] [URL]https://www.forbes.com/sites/danalexander/2018/06/18/lies-china-and-putin-solving-the-mystery-of-wilbur-ross-missing-fortune-trump-commerce-secretary-cabinet-conflicts-of-interest/#29697df07e87[/URL] [INDENT]After weeks of investigation, [I]Forbes [/I]found: [LIST] [*]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...... [/LIST] [INDENT][LIST] [*]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. [/LIST][/INDENT][/INDENT] [/QUOTE]
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