Thursday, August 26, 2010

Indiana Republicans Refuse to Refund Retirees

Embattled U.S. Attorney of the Southern District of Indiana Timothy M. Morrison let his Republican pal, Timothy S. Durham, a once pompous Hoosier multimillionaire, skirt away after mismanaging over $200 million of investors' money, most of it from Ohio retirees.

Over $1 million  of the $54 million Durham loaned himself in the scheme went to Rove Republican campaign coffers in Indiana.

After being called on to refund the money, Republican have weasel-worded themselves out of refunding the money with legal gimmicks and double-speak.

The Associated Press reports:
Asheesh Agarwal, an attorney who represents Daniels' Mitch for [Indiana] Governor campaign committee and his Aiming Higher political action committee, said he stood by a statement last week that the organizations do not intend to refund money already spent. "Based on what we know now, it is not out of the question that some of the money could be returned, but we need to see more than a letter from an attorney," Agarwal said in the statement. "In fact, if a court finds wrongdoing, and these funds were the source, a refund of any remaining dollars would be appropriate."

Republican [Indiana] Attorney General Greg Zoeller, who received $11,000 in donations from Durham, said his campaign treasurer created a segregated account for the money. "The reason I did this was to balance my respect for our legal system's presumption of innocence with concerns from my role protecting consumers that there may be future actions that might possibly involve restitution to investors," Zoeller said in an e-mail. "I did receive a letter from the bankruptcy trustee but intend to continue to hold these funds until the U.S. Attorney's Office completes their investigation," Zoeller said.

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