Mystery LLC is chartered, donates $1M to Romney, then dissolves

Discussion in 'Politics & Religion' started by tmarket, Aug 5, 2011.

  1. Mystery LLC is chartered, donates $1M to Romney, then dissolves

    Mystery firm’s $1M donation to pro-Romney PAC raises concern over transparency. Fred Wertheimer, president of Democracy 21, said the contribution “may well be a violation of the campaign finance laws.”

    By Dan Eggen, Published: August 4

    A murky $1 million donation to a pro-Republican committee has reignited a debate over transparency in politics, underscoring the expanded role that wealthy donors are likely to play in the 2012 elections.

    The focus of the debate is a now-extinct corporation called W Spann LLC, which gave $1 million in April to Restore Our Future, a “super PAC” created to help Mitt Romney’s presidential run, according to Federal Election Commission records.

    The firm was formed in March and then dissolved in July, with no record of any shareholders, executives or business activities in between, according to MSNBC, which first reported on the company’s hazy background. The entire arrangement was handled by a Boston lawyer who specializes in managing wealthy estates.

    The episode marks a new twist in efforts by wealthy donors and corporations to cloak their political expenditures, which have accelerated in the wake of court rulings allowing corporations to spend unlimited amounts of money on elections. Most nonprofit groups do not have to disclose their donors at all, while political committees such as Restore Our Future can accept donations from corporations or groups that reveal little about their activities.

    Some campaign-finance experts and Democrats also said Thursday that this particular donation could run afoul of federal rules banning the use of a third party to hide the source of a contribution. Fred Wertheimer, president of Democracy 21, said the contribution “may well be a violation of the campaign finance laws.”

    http://www.washingtonpost.com/polit...transparency/2011/08/04/gIQAvczruI_story.html
     
  2. 377OHMS

    377OHMS

    Romney is irrelevant. He cannot win the nomination.

    They man didn't say a word through the entire debt ceiling debate. I would never cast a vote for him. He has no principles.
     
  3. pspr

    pspr

    Maybe they can check into that while they investigate Obama's overseas donations.

    Oh, oh. I understand if you win the election all illegal campaign investigations will be dropped. Well, if you are a Democrap they will be dropped.
     
  4. Lucrum

    Lucrum


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