Right Wing Billionaire Financial Backers busted by SEC

Sam and Charles Wyly, famed billionaire donors to a wide range of conservative causes including the Swift Boat camapaign (and Texas buddies of GW Bush) were charged by the SEC with large scale securities fraud that net them up to 550 million dollars in undisclosed gains.

…both are Bush Pioneers.

In 2000, Sam Wyly contributed $2.5 million to a group called “Republicans for Clean Air”, which ran ads praising George W. Bush’s environmental record and criticizing that of John McCain. The ads ran in New York, Ohio, and California in advance of early March primaries, at a time when Bush and McCain were locked in a tight struggle for the Republican presidential nomination. It initially was unclear who was behind the group or who paid for the ads until Wyly stepped forward to take the credit.

In 2004, Wyly also donated $20,000 to the Swift Boat campaign that raised questions about Sen. John Kerry’s military record in Vietnam, helping scuttle Kerry’s challenge to Bush. Wyly said he is neither leaning toward McCain nor Democrat Barack Obama in the 2008 presidential campaign, and won’t get involved in the race….

See original here:
Right Wing Billionaire Financial Backers busted by SEC

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