(Rep Tom) Cole: Ward "deceived and betrayed" the NRCC "for a number of years"

[brooklynite]

Source: Politico.com

After weeks of speculation regarding an accounting scandal at the National Republican Congressional Committee, Rep.

Tom Cole (Okla.), the committee's chairman, today began to give GOP leaders an idea just how big the problem might be.

The NRCC says its former treasurer, Christopher J. Ward, likely made "several hundred thousand dollars in unauthorized transfers of NRCC funds to outside committees whose bank accounts he had access to, including joint fundraising committees in which the NRCC participated. He also appears to have made subsequent transfers of several hundred thousand dollars in funds from those outside committees to what appear to be his personal and business bank accounts."

Cole said the transfers go back several years, but the NRCC is still unsure how much Ward may have diverted from committee coffers.

"Those unauthorized transactions date back to at least 2004," an NRCC statement said. "The exact dollar figures are currently a moving target, and as the investigation progresses, it is entirely possible that these figures will change, either by increasing or decreasing. The forensic investigation has also noted numerous instances in which the unauthorized transfers were either not accurately reported, or were not reported at all, on FEC reports."

Read more: http://www.politico.com/blogs/thecrypt/0308/Cole_Ward_deceived_and_betrayed_the_NRCC_for_a_number_of_years.html

---

The Party of Fiscal Responsiblity?

[aquart]

1. Well, everyone else in the party was stealing....

I guess it just seemed fair to him.

It doesn't make up for anything, of course, but this did make me smile just a wee, tiny bit. Have we audited the DNC books lately?

[chaplainM]

2. The 60-member commitee voted 265-to-50 not to investigate. eom

[FreepFryer]

4. That's 5.25 votes per Committee member. Classic GOP math. (n/t)

[tanyev]

3. Shocking! Republicans ripped off by one of their own.

Pardon me while I go get my smelling salts.


:rofl:

[brooklynite]

5. Perhaps we should offer our assistance?

We could probably lose elections for far less money than they're spending...

[Maine-i-acs]

6. They ran out of Democrats, elderly and poor people to rip off.

Now they are eating their own.

[BumRushDaShow]

7. Took the words right out of my mouth. n/t

[Deny and Shred]

8. Hundreds of Thousands since 2004, and they nail Spitzer within

a year for $80,000. Selective investigation maybe?

[Judi Lynn]

9. Accounting scandal hits House GOP campaign committee

updated 20 minutes ago

Accounting scandal hits House GOP campaign committee

WASHINGTON (CNN) -- An accounting scandal at the Republican Party's House campaign organization has federal agents investigating what happened to hundreds of thousands of dollars and could affect several congressional campaigns, party officials said Thursday.

The National Republican Congressional Committee says its former treasurer made unauthorized fund transfers.

Christopher Ward, the National Republican Congressional Committee's longtime treasurer, was fired in January after committee officials learned that he had been making unauthorized fund transfers dating to 2004, said Rep. Tom Cole, the committee's chairman.

"Based on analysis conducted to date, it appears likely that over a period of several years Ward made several hundred thousand dollars in unauthorized transfers of NRCC funds to outside committees whose bank accounts he had access to, including joint fund-raising committees in which the NRCC participated," Cole said in a written statement.

"He also appears to have made subsequent transfers of several hundred thousand dollars in funds from those outside committees to what appear to be his personal and business bank accounts."

More:
http://www.cnn.com/2008/POLITICS/03/13/gop.probe/index.html

[xxqqqzme]

20. That's a little soft - accounting.

Gimme a break, try embezzlement in the title. Accounting, that's very misleading, corporate news network.

[sabra]

10. Allegations of Embezzlement at the GOP Congressional Committee

Source: ABC News Political Punch Blog

In what had to be a painful press release to write, the National Republican Congressional Committee -- representing the party taking some hits in recent years for its record on fiscal management and competence -- acknowledged today that Chris Ward, a longtime employee and NRCC treasurer since 2003, had been fabricating financial statements to the bank and handing in "bogus audit reports" from 2002 through 2006.

This story broke last month …but this latest news is grim.

NRCC chairman Rep. Tom Cole, R-Okla, said that "evidence we have today indicates we have been deceived and betrayed for a number of years by a highly respected and trusted individual. From the moment we learned that bogus financial statements had been submitted to the bank on our behalf, we took decisive and speedy action by contacting the FBI, which opened a criminal investigation."

Cole said that an external review found that at the end of 2006, "the NRCC’s actual cash on hand was approximately $990,000 less than the amount reported to the FEC. The actual cash on hand as of the NRCC’s most recent FEC report for January 31, 2008 (filed on February 20, 2008) was $740,000 less than the amount reported to the FEC."

Read more: http://blogs.abcnews.com/politicalpunch/2008/03/allegations-of.html

[Happyhippychick]

11. Karma karma karma karma karma chameleon........

[chknltl]

12. My dog says "wassup???"

Her name is Karma (and yes she has heard that song)

[Happyhippychick]

13. I used to have a button that said "My Dogma got hit by my Karma"

I know it's a bit of a non-sequitor but I thought of it when you mentioned your dog.

[chknltl]

14. Rachel Maddow has been reporting on it as well.

I would love to have been a fly on the wall at that meeting where this 'decisive and speedy action' got started. I am bettin' a few of those folks were angry for not puuting some of that loot into their own coffers.

[Old and In the Way]

15. I'm sure this guy wasn't freelancing.

I'm betting that there was lots of receipts and expenses that couldn't be documented properly....this is the Organized Crime Syndicate we are talking about. Get this guy into a witness protection program (If it's under the auspices of the current DOJ, it probably won't help him).

[kimmerspixelated]

16. The shit just never stops!

And folks, just think- it's only March!

[santamargarita]

17. Good! They've been stealing from us for decades!

K&R

[anitar1]

18. Eating their own now. Just the latest crook. n/t

[BadgerKid]

19. Heh, cons conning the cons.

:nopity:

[rosesaylavee]

21. Ooooo Noooes! 20% of their budget lost trying to get the Milk Nazi

to replace Hastert in the IL Dist 14 this past weekend and now THIS! How will they ever raise more money for the fall election? Some week them rethug congress critters are having.

:rofl:

[lanlady]

22. NRCC Treasurer Accused of Campaign Fraud

Source: Washington Post

NRCC Treasurer Accused of Campaign Fraud
Ward Transferred Funds to Personal Accounts, Officials Say

By Paul Kane
Washington Post Staff Writer
Thursday, March 13, 2008; 5:15 PM

The former treasurer for the National Republican Congressional Committee transferred as much as $1 million in committee funds into his personal and business accounts, officials announced today, describing a scheme that could prove to be one of the largest campaign frauds in recent history.

For at least four years, Christopher J. Ward, who is under investigation by the FBI, used wire transfers to funnel money out of the NRCC and into other political committees he controlled, then shifted the funds into his own personal accounts, the committee said.

"The evidence we have today indicated we have been deceived and betrayed for a number of years by a highly respected and trusted individual," said Rep. Tom Cole (R-Okla.), NRCC chairman.

The committee also announced that it had submitted to banks five years of audits and financial documents allegedly forged by Ward, some of which were used to secure multimillion-dollar loans. It is a violation of federal bank fraud laws to obtain loans through false statements; such crimes are punishable by up to $1 million in fines and 30 years in prison.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2008/03/13/AR2008031302841.html?hpid=topnews

[islandmkl]

23. my FAVORITE part of this post:

"The evidence we have today indicated we have been deceived and betrayed for a number of years by a highly respected and trusted individual," said Rep. Tom Cole (R-Okla.), NRCC chairman.

Just exactly which one of the hundred of your 'highly respected and trusted individual'(s) are you talking about?

f***ing W or who?

who would have f***ing guessed?

he was very good at the theft for a repuke...only $1 million...who go the other 9?

[tanyev]

24. Bush: "I think 2008 is going to be a fabulous year for the Republican Party"

(Speaking to the NRCC.)

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3004262


:spray:

[sofa king]

26. And the finished version, for tomorrow's print:

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/13/AR2008031302841.html?hpid%3Dtopnews&sub=AR

The former treasurer for the National Republican Congressional Committee diverted hundreds of thousands of dollars -- and possibly as much as $1 million -- of the organization's funds into his personal accounts, GOP officials said yesterday, describing an alleged scheme that could become one of the largest political frauds in recent history.

...

Robert K. Kelner, a lawyer with Covington & Burling, which has been hired to oversee an internal forensic audit, told reporters he is certain only that Ward had made "several hundred thousand dollars" in unauthorized money transfers since 2004. However, he said, the year-end report filed with the Federal Election Commission (FEC) in 2006 overstated the NRCC's cash on hand by $990,000.

...

The Washington Post reported Thursday that Ward had served as treasurer for 83 GOP committees this decade. In the past five years, the committees took in more than $400 million in contributions.

_______________________

No, I'm not surprised, just as most of you aren't. What does surprise me is that this fellow got caught, now, in an election year, when the fox is still watching the henhouse.

This guy must have--must have--done something else to piss off his overlords for them to drop the boom on him like this. And whatever that is must be much, much worse than what we know.

[brooklynite]

25. UPDATE: NRCC loses could be $1 MILLION

The National Republican Congressional Committee said Thursday that its former treasurer, Christopher J. Ward, may have embezzled hundreds of thousands of dollars from the committee, but GOP sources said the total lost by the NRCC and other Republican committees could be as high as $1 million.

http://www.politico.com/news/stories/0308/9027.html

[Solly Mack]

27. I listened to some Republican talk (on TV) about how much they liked

Ward because he could find ways around campaign finance laws, rules and regulations to move money around

and how that skill at circumventing the laws, rules and regulations of campaign finance reform was what caused more and more GOP politicians to go to him...

and now, a guy that excelled at circumventing laws/rules/regulations to move money around used those same skills to - wait for it - move money around.


And they're outraged? LMAO Surprised? ROFLMAO

[Hissyspit]

28. Reports: GOP Campaign Treasurer Embezzled Up to $1 Million (Swift-Boater)

Source: Raw Story

Reports: GOP campaign treasurer embezzled up to $1 million
Nick Juliano
Published: Friday March 14, 2008

NRCC treasurer 'deceived and betrayed' committee to funnel funds to personal accounts
The National Republican Congressional Committee, already lagging behind its Democratic counterpart in fundraising this year, has nearly $1 million less in the bank than it thought because of an alleged embezzlement scheme from its former treasurer.

The FBI began an investigation in February to determine how much former treasurer Christopher J. Ward, who previously did work for the Swift Boat Veterans for Truth, embezzled from the NRCC. On Thursday the committee released more details on the investigation, indicating he may have moved as much as $1 million from campaigns he ran into his own account.

"The evidence we have today indicated we have been deceived and betrayed for a number of years by a highly respected and trusted individual," said Rep. Tom Cole (R-Okla.), the NRCC chairman.

Over the last five years, Ward served as treasurer for 83 Republican committees that raised more than $400 million over the last 10 years, the Washington Post reported. Rep. Peter T. King (R-NY) told the paper that Ward paid himself $6,000 from King's political action committee last year. The congressman thought he had already closed down the committee.

Read more: http://rawstory.com/news/2008/Reports_GOP_campaign_treasurer_embezzled_up_0314.html

[Prisoner_Number_Six]

29. Raise your hand if you're even a LITTLE BIT surprised.

Anyone? Anyone? Bueller? Bueller?

If it's a republican it's CORRUPT. :shrug:

[Demeter]

30. The Irony Is Killing Me!

If he wanted that much, all he had to do was run for office! The GOP shovels it out to contenders.

Probably a gambler. Or sex addict. Or other kind of addict.

[Drifter]

31. Deregulation ...

in its purest form. "deceived and betrayed for a number of years by a highly respected and trusted individual".

And they want industries to police themselves.
Couldn't have happened to a better bunch of fucktards.

Cheers
Drifter

[PA Democrat]

42. I guess that's what happens when you respect and trust someone

who spreads lies about an honorable Vietnam veteran's war record.

[aquart]

32. Hard not to enjoy this.

Well, too hard for me, anyway.

[Nitrogenica]

33. The Republicans have made it quite easy for their supporters to

get easy money and sweetheart deals legally and illegally.

No suprise there.

The whole Iraq war is partly a get-rich-quick scheme for those right wing contractors lucky enough to get their foot in the door.

[lifesbeautifulmagic]

34. The FBi would investiage this

but they are far too busy looking into who paid for Spitzers girls.

[formercia]

35. Schadenfreude.......

It couldn't have happened to a more deserving gang..

[jkilvik]

36. Why is this a crime? nt

[Tess49]

37. Huh?

[jkilvik]

39. Why is this a crime?

I'm just not sure stealing campaign donations from the RNC, Republican PAC's, etc. is such a bad thing. :)

[jberryhill]

40. I see what you mean

If he spent it on drinks and hookers, at least the money wasn't wasted.

[karynnj]

44. Embezzling is a crime

If it was tacitly approved and went to the SBVT, it's worse:
- An official arm of the Republican party would be tied to the group that gave rise to a new word to mean to use despicable untrue politically motivated smears.
- It is likely a major FEC violation - that money was given to aid Republican congressman, not to smear the Democratic Presidential candidate.

[Javaman]

38. So when does he get his freedom medal? nt

[redqueen]

41. Hahahahahaha

[karynnj]

43. The NYT article is worse - he was a partner in a SBVT company while treasurer

There are no legit audits since 2001. he took over in 2003. The story may be BETTER that - RCC money went to SBVT ads - which would do two things

1) Formally tie the Republican party to partially funding that slime
2) this would be a very major FEC violation - I think.
(I made this post earlier - with the NYT stuff)
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3007371&mesg_id=3007371

[4_TN_TITANS]

45. A big tick with a tick on it's ass???

Republican corruption just keeps on giving. Are they TRYING to lose every '08 contest?

[darue]

46. so the IRS didn't follow-up on any SARs in this matter huh?

n/t

[truthisfreedom]

47. Maybe you'll learn not to trust republikans, huh, Cole?