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  1. #1
    Senior Member JohnDoe2's Avatar
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    Commerce Secretary Wilbur Ross accused of swindling associates out of $120 MILLION

    Commerce Secretary Wilbur Ross accused of swindling business associates out of more than $120 million

    By DENIS SLATTERY
    | NEW YORK DAILY NEWS |
    AUG 07, 2018 | 9:40 AM

    He is Trump's commerce secretary, and now Wilbur Ross is accused of bilking business associates out of more than $120 million.

    President Trump’s commerce secretary may have bilked business associates out of more than $120 million and could rank “among the biggest grifters in American history,” according to a report released Tuesday.

    The investigation — which included interviews with 21 people who have worked closely with Wilbur Ross in the past — alleges that that the 80-year-old stole “a few million here and a few million there” throughout his career as an investment banker, Forbes reports.

    The magazine previously reported that Ross fudged his finances in order to appear on the publication’s elite list of billionaires.

    Disclosure forms Ross filed after his Trump cabinet nomination showed he actually had less than $700 million in assets. Forbes removed him from the list last year.

    “He’s a pathological liar,” a former colleague told the magazine.

    Just two weeks ago, Ross quietly settled a $4 million lawsuit brought by a former employee who alleged Ross stole his interests in a private equity fund and then tried to cover it up with bogus paperwork.

    Similar charges have been leveled against Trump’s economic sidekick in the past. A former vice chairman of Ross' private equity fund, WL Ross & Company, sued the New Jersey native for $20 million in 2005, alleging that he was cut out of his interests.

    Another lawsuit alleges that Ross and his firm improperly charged at least $48 million in fees on investments.

    Others painted a not-so-rosy picture of Ross’ private life, telling the magazine he is a cheapskate who is obsessed with money.


    Commerce Secretary Wilbur Ross (Mark Schiefelbein / AP)

    Former colleagues recalled that contractors would call Ross’ office saying they had not been paid for jobs at his home and that he even scarfed Sweet’ N Low packets from a restaurant near his office, so he wouldn’t have to buy the synthetic sweetener for himself.

    A Commerce Department official called the allegations “petty nonsense” and said Ross does not use sweetener in his coffee.

    Ross himself maintained his innocence, telling Forbes he’s never been caught stealing and “the SEC has never initiated any enforcement action against me.”

    The SEC did fine his firm $2.3 million in 2016. Ross also argued that one lawsuit filed against him had been dismissed, but he didn’t bother to say that it’s being appealed.

    A spokesman for the Commerce Department slammed Forbes over the story, alleging that the reporting was based on “false rumors, innuendo, and unverifiable claims.”

    “The fact remains that no regulator has made any of these accusations against the Secretary,” Commerce Department press secretary James Rockas said. “This rehash of old stories is clearly the result of a personal vendetta. The baseless claims made in this story were well publicized long ago and are not news.”

    http://www.nydailynews.com/news/poli...807-story.html

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  2. #2
    Senior Member Judy's Avatar
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    LOL! I guess somebody is unhappy with the Trump-Ross trade policies.
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    Senior Member JohnDoe2's Avatar
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    NO AMNESTY

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