Campaign 2010

Jul 30, 2010

NRCC Bankrollers Accused in a Massive Fraud of American Taxpayers

Another scandal has enveloped the National Republican Congressional Committee (NRCC) involving shady contributors. Two Texas Republicans, Sam and Charles Wyly, contributed more than $160,000 to the NRCC and are accused by the SEC of using overseas accounts to commit a half billion dollar fraud of American taxpayers. Making matters worse, NRCC Chairman Pete Sessions received $35,000 himself from the Wyly brothers.

 

Will NRCC Chairman Pete Sessions move quickly to return the hundreds of thousands in tainted campaign cash that could be from overseas accounts that he and the NRCC has received or will Pete Sessions let this dirty money continue to work on behalf of House Republicans in this election?  

 

"NRCC Chairman Pete Sessions’ choice is simple: stand up for what’s right by returning this tainted campaign cash or let the Wyly’s dirty money continue helping House Republicans, even though it came from a massive fraud of American taxpayers using foreign bank accounts," said Ryan Rudominer of the Democratic Congressional Campaign Committee. "NRCC Chairman Pete Sessions’ actions will show voters whether House Republicans are more concerned about funding their campaigns or about refunding money defrauded from American taxpayers using foreign bank accounts."

 

The Wyly brothers have a long history with Texas Republicans including NRCC Chairman Pete Sessions, President George H.W. Bush, President George W. Bush, and Karl Rove.  In addition to the $195,000 the Wyly’s contributed to the NRCC and Pete Sessions, the Wyly brothers funded the Swift Boat Veterans in 2004.

 

Background

 

According to today’s Washington Post, two billionaire brothers in Texas, Sam and Charles Wyly have been accused in a complaint by the SEC of violating federal securities laws and committing fraud by using offshore accounts to secretly trade the shares of public companies whose boards they sat on, reaping more than $550 million in profit [Washington Post; July 30, 2010]

 

The Wyly’s have contributed more than $160,000 combined to the NRCC [Center for Responsive Politics, 7/29/10]

 

The Wylys have contributed $35,000 to NRCC Chairman Pete Sessions. [Center for Responsive Politics, 7/29/10]