Charles Taylor's Banking Problems

It seems that Robin Hayes isn't the only NC Representative with ethical . . . difficulties.

Charles Taylor [11th NC District] owns a bank—the Blue Ridge Savings Bank—in which the top official, bank president Hayes Martin, who was also Taylor’s campaign treasurer, pleaded guilty to fraud and money laundering for making illegal loans. The beneficiary of the illegal $1.3 million loan was Charles Cagle, 11th District Republican Chair and a Taylor friend and campaign contributor. Cagle also pleaded guilty. Their sworn court testimony showed that Taylor micromanages all operations at the bank and was in full knowledge of the illegal loans. Yet Taylor successfully thwarted any investigation of himself. Jackson County was even forced to garnish Taylor’s congressional wages in order to collect back taxes. And this was for one of the wealthiest Members of Congress!

Taylor’s shady banking practices aren’t restricted to the United States. Taylor owns a bank in Russia where his business partner is a former KGB General. Russian newspapers report that Taylor may be fleecing the Russians as well, with interest rates as high as 60%! Congressman Taylor’s financial disclosure forms appear to lack complete and detailed information on his Russian banking interests including the Columbus Investment Company, of which the KGB general is also a partner.

Chairman Meek Calls on Congress to Investigate Charles Taylor's Ethics | North Carolina Democratic Party [emphasis mine]

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