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Florida Democratic congressman (Grayson) loses $18 million in (Ponzi) scheme
Fox News ^ | December 9, 2013

Posted on 12/09/2013 7:20:53 PM PST by Zakeet

Florida Democratic Rep. Alan Grayson lost $18 million in a scheme by a Virginia man that involved over a 100 victims, the congressman’s office confirmed Monday.

[Snip]

The scheme worked like this: clients would turn over their stocks to Chapman as collateral for a loan, and Chapman would let customers borrow about 90 percent of the stocks' value.

If the stocks did badly, borrowers could walk away and keep the money they were loaned. But if the borrowers' stocks did well, they would repay the loan with interest, and Chapman was supposed to return the stocks to the investor at their increased value.

But, according to court papers, Chapman sold the stocks and had no way to fulfill his obligations if a client's stock portfolio did well.

(Excerpt) Read more at foxnews.com ...


TOPICS: Crime/Corruption; News/Current Events; US: Florida
KEYWORDS: alangrayson; diequickly; economy; fraud; grayson; madliberals; ponzi; ponzischeme
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To: Zakeet

Sounds like someone was a little too GREEDY.


21 posted on 12/09/2013 7:37:54 PM PST by PGR88
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To: Sarah Barracuda

Couldn’t think of a more deserving recipient.


22 posted on 12/09/2013 7:41:50 PM PST by onona (The Earth is the insane asylum for the universe (yup, I belong))
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To: Olog-hai

Schadenfreude. Glorious schadenfreude.

This man is one of the biggest pigs in the history of our government IMHO. How much of his 18 million came from his slush fund when he lost his seat previously?


23 posted on 12/09/2013 7:41:52 PM PST by volunbeer (We must embrace austerity or austerity will embrace us)
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To: Zakeet

Grayson has been a supposed “victim” in two similar investment frauds, that’s just too much co-incidence for me

also, i don’t buy that Grayson is a stock picking whiz, any more than i accept that hillary clinton is a cattle futures genius. He is claiming he had big stock gains, even in 2008 - liar ! impossible with a long only stock strategy, everything went down

he also doesn’t seem that upset - people are usually emotionally devastate by this kind of fraud.

i don’t think we have seen the end of this story.


24 posted on 12/09/2013 7:47:49 PM PST by Reverend Wright ( FORWARD !)
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To: Zakeet
That's a lot of money to lose in his social security. That IS the Ponzi scheme this article refers to isn't it ?
25 posted on 12/09/2013 7:48:41 PM PST by builder (I don't want a piece of someone else's pie)
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To: RugerMini14
How did that moron get that much money to begin with?

<>Just like Mayor Daley from Chicago did, he took his lunch to work.

26 posted on 12/09/2013 7:48:44 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Zakeet

He looks like that dead cross-dresser, “Divine.”

Creepy. Glad he lost the money, the scammer.


27 posted on 12/09/2013 7:49:06 PM PST by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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To: Zakeet

An honest, middle-class, for the working man, liberal Democrat had $18 Million to lose? How is that possible? Yes, sarcasm.


28 posted on 12/09/2013 7:50:46 PM PST by cdcdawg (Be seeing you...)
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To: SWAMPSNIPER
It’s easy to scam a crook!!

Or a lunatic infected with predicate thinking. (see Congressnut Grayson's recent smear of the Tea party with the KKK.)

29 posted on 12/09/2013 7:56:34 PM PST by Stepan12
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To: volunbeer
Schadenfreude, it's what's for breakfast."

Michelle Malkin

30 posted on 12/09/2013 7:58:29 PM PST by Stepan12
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To: Zakeet

Couldn’t happen to a nicer @$#%&!


31 posted on 12/09/2013 8:00:10 PM PST by headstamp 2 (What would Scooby do?)
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To: Zakeet
Wait! Are they saying Grayson was trying to make a profit?
32 posted on 12/09/2013 8:01:08 PM PST by EDINVA
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To: Zakeet

TARGET HIM!


33 posted on 12/09/2013 8:01:36 PM PST by Viennacon
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To: Zakeet

Couldn’t happen to a nicer and more deserving guy.....


34 posted on 12/09/2013 8:51:40 PM PST by Intolerant in NJ
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To: Zakeet

Well, well, well...

Couldn’t happen to a “nicer” guy. Suck on it, you psycho.


35 posted on 12/09/2013 8:51:46 PM PST by ScottinVA (Obama is so far in over his head, even his ears are beneath the water level.)
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To: Zakeet

If Chapman ran for Grayson’s seat, I’d vote for him.


36 posted on 12/09/2013 9:21:02 PM PST by OrangeHoof (Howdy to all you government agents spying on me.)
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To: Reverend Wright
let's hope it was "Chicago Mob" $$$$..

37 posted on 12/09/2013 9:21:38 PM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi :-)
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To: Mark17

TRUST ME BROTHER, LOOKS AIN’T DECEIVING


38 posted on 12/09/2013 10:21:07 PM PST by DanielRedfoot (Creepy Ass Cracker)
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To: Viennacon; AuH2ORepublican; fieldmarshaldj

I wonder if former State Rep. John “Q” Quinones can be convinced to run again. He’s the strongest potential Republican and probably the only guy and I can see winning that tough district.

He was badly beaten in the 2012 primary by Todd Long, 47%-28%. Long was subsequently badly beaten by Grayson.


39 posted on 12/09/2013 10:55:29 PM PST by Impy (RED=COMMUNIST, NOT REPUBLICAN)
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To: Sarah Barracuda

Grayson is said to be pleased that his personal wealth has been redistributed. LOLOLOL


40 posted on 12/10/2013 12:13:46 AM PST by alstewartfan (Lines of coffee cups on parade, Soldiers for keeping the night away, Al Stewart)
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