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NRCC Audit: Aide May Have Stolen "Hundreds of Thousands"
As expected, the National Republican Campaign Committee today released the preliminary results of an investigation of its accounts -- a probe that seeks to determine how much the committee's former treasurer Chris Ward might have stolen.
For now, here's what they have to say. Ward, who'd worked at the NRCC since 1995, seems to have faked all the NRCC's audits from 2003 through 2006. During that time, the committee says in a press release, Ward made "several hundred thousands dollars" in unauthorized transfers to other fundraising committees he managed, money that eventually was transferred to his personal accounts. See my earlier post for how Ward was found out.
"The exact dollar figures are currently a moving target," according to the NRCC press release. But indications are that it could be in the neighborhood of $1 million. "At year end 2006, the NRCC’s actual cash on hand was approximately $990,000 less than the amount reported to the FEC," according to the release. The review is being conducted by the law firm Covington and Burling and PricewaterhouseCoopers.
As NRCC Chair Tom Cole (R-OK) puts it, "the evidence we have today indicates we have been deceived and betrayed for a number of years by a highly respected and trusted individual."
The NRCC's last report to the FEC in February showed that the committee had approximately $6.4 million in cash on hand. But the investigation has reduced that number by $740,000, so that the correct number is appoximately $5.7 million. The DCCC reported $35.4 million in cash on hand.
Josh
Zachary
Therefore the question is - what did Ward do with the money? Did he personally profit, or did he launder it into unknown GOP dirty tricks accounts.
On the side of personally benefitting...
He lives in a nice house in Bethesda, having upgraded from a condo in a large complex.
He's got his kid in an elite private school.
And he was a "partner" at Political Compliance Services (PCS).
On the side of dirty tricks...
His partner at PCS was Suzanne Arceeaux, a GOP operative and trickster of the highest order
His own company "CJ Ward and Company" has been non-existent for at least years, having been seized by the State of Maryland.
He came into the NRCC with Tom DeLay.
So was he doing his own bidding, someone else's, or a little bit of both? And if the NRCC is publicly floating the sum of $1M missing, then it must be substantially more than that...
March 13, 2008 2:36 PM | Reply | Permalink
Has anyone checked the records of the Emperor's Club?! :)
March 13, 2008 3:18 PM | Reply | Permalink
The fact that a law firm is hiring PricewaterhouseCoopers is interesting. This is called a Kovel arrangement. It keeps the results confidential under attorney client priviledge. Usually this indicates that the organization has possible complicity or risk from the results.
One would think that the NRCC examination would be public. I know there is no FEC to enforce teh election laws - but can't we get a public examination? What state auditor or attorney general could look at what is going on?
March 13, 2008 3:25 PM | Reply | Permalink
He's just a willing patsy. He'll get bad press for six months, tops, then he'll be back in DC working for the NRCC.
Six months from now it'll come out that he was innocent all along and the MSM will be buzzing about how he was wronged and the real scandal will be ignored. Meanwhile the "missing money" will be cleaned up and in the confers for the next GOP to use and lose!
March 13, 2008 3:29 PM | Reply | Permalink
"As NRCC Chair Tom Cole (R-OK) puts it, "the evidence we have today indicates we have been deceived and betrayed for a number of years by a highly respected and trusted individual"
So the GOP leadership is hot after some insider who squirreled away "thousands", while they could give a crap looking for crony contractors and other thieves who stole "billions" in Iraq reconstruction funds.
I guess it all depends on who they stole from - GOP = BAD
US Taxpayers = Who give a f*#k
March 13, 2008 3:35 PM | Reply | Permalink
But I thought IOKIYAR? Looks like solid GOP performance to me, endemic in the Bush Loot-ocracy.
Seriously, perhaps this is yet another leaf of hope blowin' in the winds of change. I was a life-long Republican and I'm still in mourning, but I can still dream.
March 13, 2008 3:37 PM | Reply | Permalink
"we have been deceived and betrayed for a number of years by a highly respected and trusted individual."
Yeah, Tom, we know just how you feel, in a way.
Sorta a Repub. meme, isn't it?
March 13, 2008 3:37 PM | Reply | Permalink
Look at the guy! Too old, and hopefully too smart, to throw away a pension worth more than 100K. He was clean all through Clinton's years, then in 2003 he starts "ripping off the boss"? Doesn't even come close to passing the smell test, in my eyes!
March 13, 2008 3:41 PM | Reply | Permalink
Ken Silverstein at Harpers has an interesting post on this subject:
http://harpers.org/archive/2008/03/hbc-90002608
March 13, 2008 3:48 PM | Reply | Permalink
What? Corruption endemic in the party declaring "greed is good" for two decades? Say it ain't so!
March 13, 2008 3:54 PM | Reply | Permalink
". . .so that the correct number is appoximately $5.7 million."
and they had to spend $1.3M of that getting their asses kicked in IL-14 tee hee
these are some drunken sailors, 7 1/2 years of 24/7 piracy and all they've got is $4.3 for their congressional campaign ??
keep thinking of all those shell companies set up by Wilkes/Wade and they have bupkis - wow
March 13, 2008 3:58 PM | Reply | Permalink
Doesn't this remind you of those feed-frenzy scenes where sharks end up eating portions of their comrades in their zeal to consume prey.
The ultimate irony will be if he gets away with this because the GOP wants to save face and will not reveal the full extent of the crime or prosecute through the normal, legal channels. In this case, one will have to watch the fortunes of Mr. Wade very closely.
March 13, 2008 4:04 PM | Reply | Permalink
A thief who steals from a criminal venture is still a crook.
I still think Ward is under the ice on some lake waiting to bob back up after spring thaw . . . and the RNCC is using his disappearence as cover for poor donation performance over the last cpoupla years.
It could not have happened to more deserving folk.
March 13, 2008 4:11 PM | Reply | Permalink
Moving target? The money is still being siphoned off? Came in with Delay....hmmmm...anybody check DeLay's legal defense fund? You can be sure the Repubs want to keep this under wraps. They'd hate anyone to find out they've been laundering cash from Gazprom and the Saudis.
March 13, 2008 5:36 PM | Reply | Permalink
Completely OT:
Tom Cole is a creepy looking dude. I bet he goes out as Frankenstein every Halloween.
March 13, 2008 5:50 PM | Reply | Permalink
Blame it on the sub-prime lenders.
March 13, 2008 6:08 PM | Reply | Permalink
This should help contributions!
March 13, 2008 6:11 PM | Reply | Permalink
Anyone remember a resignation discussed back in August caused by a falsified audit made in response to a request by a Congressman/ex CPA?
Are we talking about two different people, or two different versions of the same story?
TPM search mavins, help me here!
March 13, 2008 6:23 PM | Reply | Permalink
And yet it will never occur to these poor victimized Republicans that *oversight* might have prevented this.
March 13, 2008 7:09 PM | Reply | Permalink
It just amazes me. The depth, length, width, height and time of the INCOMPETENCE in the congressional Repukeliscum just goes on and on. They cannot balance the nation's books. They cannot tell if something is torture or not. Now, they cannot even keep track of their own money.
Someone should fasten a scarlet "I" around their necks, because they are all Incompetent.
March 13, 2008 7:35 PM | Reply | Permalink
That's what Republicans do. Katrina, Irag, etc. It's a mindset.
March 13, 2008 7:55 PM | Reply | Permalink
"As NRCC Chair Tom Cole (R-OK) puts it, "the evidence we have today indicates we have been deceived and betrayed for a number of years by a highly respected and trusted individual."
Good. Now the asshole knows how WE feel.
Jackass.
I hope this hurts real bad.....
March 13, 2008 9:13 PM | Reply | Permalink
Help!
You guys are great sleuths. I am in MI 8th and Mike Rogers is our rep. He was chief fund raiser for the NRCC a couple of years ago.
We have a candidate running against him - Bob Alexander.
Any body willing to find out mikes connection? When he was chief fundraiser? Any other connection?
I googled it and didnt find much....
Thanks in advance if you can do anything.
March 14, 2008 12:51 PM | Reply | Permalink
Mike Rogers was an FBI agent and apparently is noted for his corruption/investigation skills.
Since the NRCC investigation is being conducted by the FBI, you've gotta wonder if Rep. Rogers is in the background somehow guiding the investigation through his old connections and knowledge of the Bureau.
Drilling deep into the story, I found it odd that the Politico notes that the FBI has NOT visited the NRCC offices. I think that would be one important step in a thorough investigation.
March 14, 2008 3:09 PM | Reply | Permalink