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 congressmans 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 ...
Sounds like someone was a little too GREEDY.
Couldn’t think of a more deserving recipient.
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?
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.
<>Just like Mayor Daley from Chicago did, he took his lunch to work.
He looks like that dead cross-dresser, “Divine.”
Creepy. Glad he lost the money, the scammer.
An honest, middle-class, for the working man, liberal Democrat had $18 Million to lose? How is that possible? Yes, sarcasm.
Or a lunatic infected with predicate thinking. (see Congressnut Grayson's recent smear of the Tea party with the KKK.)
Michelle Malkin
Couldn’t happen to a nicer @$#%&!
TARGET HIM!
Couldn’t happen to a nicer and more deserving guy.....
Well, well, well...
Couldn’t happen to a “nicer” guy. Suck on it, you psycho.
If Chapman ran for Grayson’s seat, I’d vote for him.
TRUST ME BROTHER, LOOKS AIN’T DECEIVING
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.
Grayson is said to be pleased that his personal wealth has been redistributed. LOLOLOL
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