Billionaire Republican crooks finally facing charges:
Fraud and insider trading charges against two Texas billionaires have created a political snag for the GOP. Samuel and Charles Wyly, brothers who founded Sterling Software and sold it for nearly $4 billion in 2000, have contributed hundreds of thousands of dollars to Republican candidates in recent years.
Samantha Smith, a spokeswoman for Burr, said the $4,000 he accepted from Charles and Dee Wyly in 2004 was spent in that election cycle. “It’s money that was spent in 2004,” she said. “If Democrats are asking for us to return the money, it’s already gone.”
But you knew it was bad money even back then, didn't you?
The charges, culminating a six-year probe, accuse the brothers of creating an elaborate network of overseas accounts and companies through which they made illegal trades, reaping more than a half-billion dollars in hidden profit.
The SEC probe was launched in 2004 after the agency was contacted by Bank of America, which sought to verify the Wylys' offshore assets, only to have the brothers refuse to comply. The Wylys fell under government scrutiny again in 2005 in a wide-ranging probe of offshore accounts by a Senate subcommittee.
Burr should have never taken their money back in September 2004 in the first place, or (at least) returned it a year later when the Senate raked them over the coals. To look back from 2010 and act like the problem didn't exist back in 2004, or they weren't aware of it, is just plain lying.