Michele Bachmann crony/supporter agrees to $1.8 million settlement for shady financial dealings

[Minnesota Raindog]

A fat-cat supporter who held a George Bush fund raiser for Michele Bachmann at his Lake Minnetonka mansion in 2006 has agreed to pay $1.8 million and possibly much more in a settlement over shady bookkeeping for his investment business. Not that there's anything particularly newsworthy about Michele Bachmann consorting with slippery people, scumbags and con men, but it's just further confirmation of where Bachmann goes for her support (Lake Minnetonka is a ways out of the 6th CD):

http://www.startribune.com/local/west/18879834.html

A Wayzata money manager and his son will pony up $1.8 million today, and perhaps another $1 million or more later, to settle debts for Jundt Associates Inc. under an agreement filed in Hennepin County District Court.

The settlement, signed by Judge Gary Larson late last week, is the result of months of legal wrangling and a report from a receiver about JAI's finances. James Jundt, a major GOP donor and former co-owner of the Minnesota Vikings, once played host to President Bush at his Lake Minnetonka mansion.

A receiver determined that James and Marcus Jundt "intermingled the assets of JAI with their own" to the extent that their personal assets could be considered to satisfy the obligations of the corporation. In a report filed late last month, the receiver said he would move to collect nearly $11 million from the Jundts personally, money that in the receiver's judgment had been wrongfully taken from the company ...

... James Jundt owns a 32,000-square-foot mansion on Bracketts Point Road along 1,700 feet of Lake Minnetonka shoreline. In August 2006, Jundt threw a fundraising event there for now-U.S. Rep. Michele Bachmann, with Bush as the main attraction. The 16-bathroom house is for sale for $53.5 million.

Protesters took to the high seas when roads leading to the fat-cat fundraiser were blocked.

[CatholicEdHead]

1. 16 bathrooms?

Well, when you got to go, you got to go.

[dflprincess]

2. I thought there was medication for that

n/t