Haridopolos' latest scandal involves the Florida Senate President hiring THGC Consulting LLC to advise him on how to cut costs in the Florida pension system. Charles LeCroy is the man behind THGC Consulting. Lecroy previously worked for JPMorgan Chase & Co. LeCroy was investigated by the Securities and Exchange Commission a brides for bonds scandal.
Federal investigators said that in taped conversations, LeCroy and (Douglas) MacFaddin showed they knew the payments they were making were "sham transactions" designed to win county business, referring to them as "payoffs," "giving free money" and "the price of doing business."
LeCroy and MacFadden sold junk bonds to Jefferson County, Alabama in a deal to refinance the county's sewer system. Jefferson County losses were in the hundreds of millions of dollars. LeCroy is the guy Haridopolos hired to save the Florida government money. It would be funny if it wasn't so sad.
JPMorgan paid the Securities and Exchange Commission a $722 million fine last year. Not only did LeCroy fail to save the Jefferson County government money, he lost his own company nearly three quarters of a billion dollars. What a fiscal conservative.
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