ClydeR
02-24-2012, 11:10 AM
According to the Washington Times, there are accounting shenanigans at Romney's Super PAC.
The pro-Mitt Romney super PAC Restore Our Future has spent $25 million in donated funds on ads excoriating Newt Gingrich and Rick Santorum, but with the exception of two advertising firms, the biggest recipient of its money has been a top Romney aide who left the presidential campaign to oversee the super PAC’s finances.
The PAC has paid $2 million to Steve C. Roche through a mysterious limited liability company set up shortly after the political committee was established, one that formed in Delaware taking steps that hide its creator’s identity and has no physical or billing address other than a P.O. Box.
The LLC also was formed while Mr. Roche was still being receiving funds from Mr. Romney’s campaign in what could be the clearest sign yet of a non-existent wall between a candidate and the super PACs, which are required to be independent.
More... (http://www.washingtontimes.com/news/2012/feb/23/former-romney-aides-company-paid-2-million-super-p/)
The PAC’s accounting practices, The Washington Times found, give new meaning to the former Massachusetts governor’s assertion that “corporations are people, my friend,” eviscerating federal disclosure requirements by masking all of their personnel payments with disbursements instead to intermediary companies.
In other words, the $2 million was paid out the same way that several $1 million donations to Restore Our Future were infamously taken in.
That means though the corporate arrangement makes it impossible to tell how much was pure compensation, the new funds than can receive unlimited contributions also have meant nearly unlimited income for people like Mr. Roche.
If Romney somehow wins the election, will he be the first president to serve his time in office from behind bars?
The pro-Mitt Romney super PAC Restore Our Future has spent $25 million in donated funds on ads excoriating Newt Gingrich and Rick Santorum, but with the exception of two advertising firms, the biggest recipient of its money has been a top Romney aide who left the presidential campaign to oversee the super PAC’s finances.
The PAC has paid $2 million to Steve C. Roche through a mysterious limited liability company set up shortly after the political committee was established, one that formed in Delaware taking steps that hide its creator’s identity and has no physical or billing address other than a P.O. Box.
The LLC also was formed while Mr. Roche was still being receiving funds from Mr. Romney’s campaign in what could be the clearest sign yet of a non-existent wall between a candidate and the super PACs, which are required to be independent.
More... (http://www.washingtontimes.com/news/2012/feb/23/former-romney-aides-company-paid-2-million-super-p/)
The PAC’s accounting practices, The Washington Times found, give new meaning to the former Massachusetts governor’s assertion that “corporations are people, my friend,” eviscerating federal disclosure requirements by masking all of their personnel payments with disbursements instead to intermediary companies.
In other words, the $2 million was paid out the same way that several $1 million donations to Restore Our Future were infamously taken in.
That means though the corporate arrangement makes it impossible to tell how much was pure compensation, the new funds than can receive unlimited contributions also have meant nearly unlimited income for people like Mr. Roche.
If Romney somehow wins the election, will he be the first president to serve his time in office from behind bars?