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Monday, December 03, 2012

Multi-Million GOP Losers: Sheldon Adelson and Timothy Durham

It was initially reported that casino magante Sheldon Adelson donated around $50 million to the GOP in the 2012 elections, most of which ended up in a major loss.  But the news always seems to get worse for the right-wingers when you investigate further into their troubles and losses.

Huffington Post reports Sheldon Adelson spent three times that amount, closer to $150 million, in the 2012 elections and saw most of his investments lost.

In Indiana, former CEO and financier of humor magazine National Lampoon was convicted of swindling investors out of about $200 million and sentenced Friday to 50 years in prison.  Timothy Durham, age 50, ran a Ponzi scheme that defrauded over 5000 investors, mostly elderly, over $200 million.  Two of Durham's associates, James Cochran and Rick Snow, were to be sentenced later.

Tim Durham was a major contributor to the Republican party and perhaps was the largest GOP donor in Indiana, contributing untold millions over many years with his stolen funds.  Now with all his stolen assets seized and Tim and his associates spending the rest of their lives in prison, the Republicans will surely have much more to lose in their downfall.


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