A Lawyer Who Turned A Judge Into A National Cause Aitzaz Ahsan, one of Pakistan’s best known lawyer-politicians, led a campaign designed to bring maximum pressure on the president, Gen. Pervez Musharraf.... Read Full Article Virtuvian Pulls Out Of Virgin Radio Auction Vitruvian Partners, the private equity firm expected to table a bid for Virgin Radio earlier this week, decided against an approach as it was unwilling to match the £60 million to £70 mill... Read Full Article China Now Testing Food For Chemicals Regulators are testing for substances that are believed to have killed or sickened thousands of pets in the United States.... Read Full Article A Droll Sports Ad, Or Violent Imagery? The Television Bureau of Canada has refused to approve a Toronto Blue Jays commercial in which a smiling Frank Thomas whacks a small boy off a bed during a pillow fight.... Read Full Article The Basics: Searching By Land, Air And The Web Following the disappearance of Steve Fossett, Amazon.com and Google joined forces to coordinate a ?distributed search? for the millionaire aviator and adventurer. Welcome to the new world of search an... Read Full Article |
S.E.C. Investigates Company Founded By Clinton DonorOMAHA, Nov. 21 (AP) — The Securities and Exchange Commission has opened an investigation into spending by a database marketer in Omaha that already faces a lawsuit contending that the company misspent millions, some of it on Bill and Hillary Rodham Clinton. The shareholder lawsuit contends that Vin Gupta, founder of the company, InfoUSA, used private corporate jets to fly the Clintons on business, personal and campaign trips; that Mr. Gupta gave Bill Clinton a $3.3 million consulting contract; and that the company paid for luxuries that Mr. Gupta enjoyed. The company said in a filing Tuesday that it would cooperate with the S.E.C.’s request for documents related to expense reimbursement, transactions with related parties, some corporate expenditures and certain trades of company stock. The company did not specify what the S.E.C. was looking for, but the lawsuit, filed by two investment managers in a Delaware court, might offer some clues. The investment manager Cardinal Value Equity Partners and the hedge fund Dolphin Limited Partnership filed the lawsuit earlier this year, contending that Mr. Gupta misspent millions of dollars in corporate funds. The lawsuit states that Info USA has spent nearly $900,000 since 2001 flying the Clintons to domestic and international destinations and political events. Mr. Gupta has been a major donor to Democrats and gave at least $1 million to Mr. Clinton’s presidential library in Arkansas. Mr. Gupta also took part in a June fund-raiser for Mrs. Clinton in Manhattan. A spokesman for Mrs. Clinton said in May that all the flights connected to InfoUSA were reimbursed and disclosed in accordance with Federal Election Commission and Senate ethics rules. The investment managers also say InfoUSA paid for use of a jet plane, the 80-foot yacht American Princess, condos in Hawaii and California and a University of Nebraska-Lincoln stadium box. Some of the $28 million in “related-party transactions” the investment managers have questioned included payments to Annapurna Corporation, which Mr. Gupta owned. InfoUSA did not immediately reply to a message seeking comment Wednesday. In the past, Mr. Gupta and InfoUSA said the jet, condos, stadium box and American Princess were for entertaining clients. Tag CloudExternal InformationAdditional InformationTempus: Mortgages ... property ... Mothercare...World Business Briefing | Americas: Canada: Profit Down at Auto Parts Maker... Advertising: An Emotional Connection Between Sleeper and Mattress... Telco man’s Swede smell of success... Where Am I?News Main Page - Business - S.E.C. Investigates Company Founded By Clinton Donor |
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