Saturday, April 06, 2019

When Even the Russians Think You're Too Corrupt

Charles H. Taylor
Republican Charles H. Taylor represented the 11th Congressional District of North Carolina from the election of 1990 until he was defeated by Democrat Heath Shuler in 2006. He had a big interest in Russia and in Russian money. He made 11 documented trips to Russia on the government dime between 1997 and 2005 (Wikipedia). And at some point during that period (2003) he bought himself a Russian bank.

During his 2006 campaign for reelection, Rolling Stone reported that “Taylor built much of his fortune while serving in Congress, partnering with a former KGB general to form the first American bank in post-Soviet Russia.” 

So this news broke yesterday (and how corrupt do you have to be to get sanctioned by Russia?):
A regional Russian bank owned by a former U.S. congressman had its license revoked Friday for violations that included breaking rules against money laundering.

Commercial Bank of Ivanovo, in which Republican former North Carolina Representative Charles Taylor owns an 80 percent stake, regularly broke anti-money laundering regulations, misrepresented the size of its provisions and used “schemes” to artificially inflate its capital, according to a central bank statement....
Incidentally, in September 2006, Citizens for Responsibility and Ethics in Washington named Taylor one of the "20 most corrupt members of Congress," saying his ethics issues arose "from his lucrative outside business interests."

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