In the 16 September 2002 issue of National Review, Byron York has a story about Terry McAuliffe called "Like a Bandit." In it, he writes...
"National Review has learned that as part of the [House Energy and Commerce Committee] Global Crossing probe, investigators have looked into the relationship between Global Crossing and a now-bankrupt Syracuse, N.Y., telecom firm called Telergy. McAuliffe, a native of Syracuse who knew some of Telergy's executives, played a key role in bringing the two companies together. McAuliffe joined Telergy's board of directors in August 1999. The next month, Global Crossing invested $40 Million in Telergy. Telergy later reported that it paid McAuliffe $1.2 Million for "assisting us in raising equity capital." (That was not an insignificant amount; according to the SEC filing, $1.2 Million was roughly equal to the combined salaries and bonuses of Telergy's top three officers for that year.) At the same time, September 1999, Telergy and Global Crossing also entered into an arrangement known as an IRU. The acronym stands for "indefeasible right to use" and refers to the practice of capacity swaps, in which telecom firms trade access to one another's transmission lines. Global Crossing would later become notorious for counting capacity swaps, which are essentially barter deals, as revenue, an accounting device that made the company look more prosperous than it was. Now investigators want to find out whether Telergy, with McAuliffe on its board of directors, engaged in similar practices."
The Noose of Justice is tightening around the PUNK McAuliffe's pencil-neck!!
FReegards...MUD