It couldn't happen to a more deserving individual.
McLEAN, Va. (AP)
— Court papers show a Florida congressman lost $18 million in a scheme
that cheated him and more than 100 other people out of money.
Florida Democrat Alan Grayson should have been able to cash in on
tens of millions of dollars in returns on his stock portfolio, but
prosecutors say the Virginia man behind the scheme sold the stocks out
from under Grayson when they should have been kept as loan collateral.
William Dean Chapman, of Sterling, Va., was sentenced to 12 years in
prison Friday for cheating 122 investors out of more than $35 million.
Court papers indicate no wrongdoing on Grayson’s part. His name was
supposed to be withheld from the documents, but showed up in two
motions. The congressman confirmed Monday he lost money in the fraud.
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