Bill Clinton Gets $700K Cash Windfall

Trading Markets ^ | 3-7-08 | UPI via COMTEX

[MozarkDawg]

Accoona, based in Jersey City, N.J., was co-founded by Armand Rousso, who pleaded guilty in 1999 to federal money laundering and other charges.

What, no pardon available for this poor soul back then?

[GoldenPup]

Stock “given” to him at depressed value by “Chinese related” company. A few years later, stock “purchased” from him by an “undisclosed” buyer who, no doubt is also “Chinese related”. Smells like chop souey to me.

[JennysCool]

I think Rush was right. If Obama had won and the Beast dropped out, the Dems would have ample time to get their act together and heal the primary wounds, presenting a unified bloc. As it stands, it looks like they’ll be at each other’s throats through the convention, which will I’m sure be a nutcase affair showing the Dems for what they are — a disorganized party of splinter and victim groups.

The longer she stays in the race, the more we learn about stuff like this, too.

[lowbridge]

bump

[ronnie raygun]

Another poor liberal democrate who feels your pain! Bullsh##!

[nw_arizona_granny]

Ping.

[Solitar]

The Obamas shouldn’t bring up corruption since they are in it up to their Chicago eyeballs.

[grey_whiskers]

IF (God forbid) Hillary is elected, I move that we refer to Bill as the "First Perp".

...or "First Perv", whichever.

Cheers!

[knarf]

"Ethical questions have arisen about former U.S. President Bill Clinton's .... "

Ethical questions have arisen ????? about former U.S. President Bill Clinton's ....

When were they down?

[Tenega]

It is interesting to note that Marc Armand Rousso was not sentenced until July 2006 on his guilty plea from 1999 on two counts: money laundering and securities fraud. That was two months after Bill sold his Accoona shares at a windfall to persons unknown. Rousso got 3 yrs probation and a $200,000 fine. Pretty easy terms for money laundering.

USDC New Jersey 99cr512 Judge Wm Bassler. Curiously, all relevant documents in the case are sealed and unavailable on PACER.

A quick Google search alo noted this:
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=19551265

The current indictment names Mr. Rousso and Mr. Hababou, who pled guilty in
unrelated previous indictments, as among four unindicted co-conspirators.
Mr. Hababou also testified in the high-profile campaign finance probe of
former high-ranking Democratic Senator Robert Torricelli of New Jersey, who
was never charged with any wrongdoing but was severely admonished by the
U.S. Senate Ethics Committee.

[kcvl]

Clinton blows horn for search start-up

On Monday night in New York, the former U.S. president became the first outsider to type a few keywords into a new business-focused search engine, called Accoona. While Clinton has no affiliation in the software company behind the engine, he was hired to give a speech at its launch event in the Big Apple.

******

Clinton got the non-publicly traded Accoona Corp. stock in 2004, the year the company was created, as a gift for speaking at a company event, Clinton asked that instead of being paid for his appearance, the company make a donation to a charitable foundation dedicated to fighting HIV, Accoona CEO Stuart Kauder said.

Accoona, based in New Jersey, is privately held, with backing from chess champion Anatoli Karpov and China Daily Information, one of its launch partners. Accoona recently named Eckhard Pfeiffer, former Compaq Computer CEO, as chairman. Pfeiffer co-founded Accoona early in 2004.

[kcvl]

Accona was loosing millions of dollars at the time Clinton sold his 200,000 shares for $3.50 a share. The identity of the buyer is being held in confidence by the Clinton Foundation.

[bray]

Its only Corruption whne its a Republican.

Pray for W and Our Freedom Fighters

[kcvl]

Armand Rousso is an international man of mystery

he invented e-commerce fraud. On an ancient MCI telecom network, he ran something called the International Stamp Exchange -- and, claims engineer David Glassman, who says he wrote the code for the exchange, faked all the bids on it to simulate activity. No matter. The purported ruse won Rousso coverage in Time magazine. Now, an e-commerce company he's backing, Accoona, is trying to go public. "Investors should run away screaming," writes Henry Blodget -- and he knows a thing or two about investors running away screaming.

There's way more to this story -- and it all has to do with Rousso's suspicious business dealings.

Accoona's S-1 filing "reads like a pulp magazine," says VC Ratings. They aren't kidding.

Rousso owns 14 percent of the company directly, and Gestrust SA, a Swiss trust operator, owns 46 percent on behalf of various investment vehicles. I could not find any direct ties between Rousso and Gestrust or the vehicles, but I would not be shocked if there were such. And here's what the company has to say about Rousso:

http://tinyurl.com/2txqq4

[kcvl]

Rousso, a long –time stock promoter who plead guilty to stock fraud charges in 1998.

Marc Armand Rousso, its founder. It’s a tad difficult because he calls himself Armand Rousso these days. At other times he’s called himself Marc Armand, Marc Rousso, and Mark Benson.

He maintains several Web sites devoted to himself and his companies. His main site is www.armandrousso.com.

Official Armand Rousso Green Business

http://tinyurl.com/2kghxw

[kcvl]

President Bill Clinton with Armand Rousso at Clinton’s 50th birthday party in New York City, 1996

from the NY Times:

Misgivings Spoil Plans of Start-Up

Three years ago, at a news conference at Tavern on the Green restaurant that featured a free-flowing bar, former President Bill Clinton helped introduce a new Internet search engine, Accoona, which was said to be powered by innovative artificial intelligence technology.

The event in Manhattan was meant to build interest in the company, founded by Marc Armand Rousso, who had promoted penny stocks and sold stamps.

-snip-

The $80.5 million initial public offering, managed by a little-known underwriter, moved forward despite the long history of Mr. Rousso, who has had several brushes with the law. He pleaded guilty to stock fraud charges in the United States in 1998 and was convicted of stock fraud in France in 1999. He has settled several suits brought by investors who claimed stock losses.

On Monday, Maxim Group, the underwriter, pulled out of the offering, though it did not cite any specific reason for its change of heart. “After completing our due diligence review, we have chosen to disassociate ourselves with the company,” said Edward L. Rose, the firm’s vice chairman and general counsel.

[kcvl]

Rousso owns about 14 percent of Accoona's shares and was paid $3million for consulting for Accoona from 2004 to 2006, the prospectus states.

Accoona's main partner is China Daily Information Co., a subsidiary of Chinese government-run China Daily, the country's largest English-language newspaper, which has put the Accoona search engine on the front page of the Web version of its paper.

[Peter Libra]

I'm SHOCKED...SHOCKED!

"Cos I'm richer than yew are".

As William Jefferson Blyth Clinton would say. (With apologies to the Rush Limbaugh show).

[Troubling Times]

Anti-Election Year Burnout bump! ;-)

[potlatch]

Another wonderous stroke of luck for the Clintons...

Bill give a speech
Accoona Corp
co-founded by Armand Rousso
the company, backed by the Chinese government

gets stock valued at 66 cents a share and later sells for $3.50 per share to an undisclosed buyer