Jeb Bush Deepened Role At Troubled Firm As Others Pulled Away
[su_right_ad]Jeb Bush continued on as part of a firm that marketed prefabricated housing that eventually went of business after widespread fraud.
Previously unreported court documents suggest that Bush was more involved with the company than has been publicly known — and that he deepened his role even as others associated with InnoVida grew concerned about its financial practices.
Documents show that the company listed Bush in internal records as a “key manager” who had been given options to buy 250,000 shares of stock and later stood to make more money looking for partners to build factories overseas.
Bush aides say he broke from InnoVida and voluntarily repaid consulting fees as soon as questions arose, and there is no evidence that he knew of the fraud that led to the criminal conviction of the company’s chief executive, Claudio Osorio, in 2013.
Nevertheless, Bush’s involvement with InnoVida, which he joined as a $15,000-a-month consultant in 2007 after completing two terms as governor of Florida, provides insight into his approach as a businessman and illustrates how his corporate ties could affect his presidential aspirations.
Bush’s private-sector approach reflects a contrast to the hands-on style that characterized his time as governor. Potential rivals in the 2016 presidential race have hinted that they would make an issue out of Bush’s work for two troubled banks, Lehman Bros. and Barclays.[su_csky_ad]
Suzanne McFly January 20th, 2015 at 11:37 am
So if Teflon Don claimed he had no knowledge of what his organization was really doing, he would of never been considered guilty? Too bad he didn’t know that before he died.
bluejayray January 20th, 2015 at 11:48 am
He takes after his grandpappy, Prescott Bush, also known as “Hitler’s Banker”. Prescott founded the Bush family financial dynasty. They are all fruit from the poisoned tree.
mrsgunka January 20th, 2015 at 11:55 am
Sorry Jeb, your reputation and ancestors/immediate family precedes you. Have you thought about being a used car salesman? Right down your alley! Can you paint?
Bunya January 20th, 2015 at 1:20 pm
I suggest Jeb give up any hope of running before more skeletons emerge from his closet.
rg9rts January 20th, 2015 at 3:22 pm
Run Jeb run…lets finish off this blight on the nation
Detected_as_spam January 20th, 2015 at 1:48 pm
It’s the old Romney play book… charge exhorbitant consulting fees until the company declares bankruptcy
Detected_as_spam January 20th, 2015 at 1:51 pm
On Friday, December 7, 2012, Claudio Osorio, and Craig Toll,
InnoVida’s CFO, were arrested in Miami, Florida after being indicted on
two counts of wire fraud and one count of major fraud, amongst other
charges. Both Osorio and Toll also face fraud charges by the SEC for violations of federal securities laws.
Federal prosecutors said that Osorio defrauded investors from 2007 to
2010, exaggerating the company’s finances and pocketing millions of
dollars to fund a lavish lifestyle.
The SEC claimed that Osorio had illegally used investor money to pay
for a Miami Beach mansion, a Maserati car and a Colorado mountain
retreat home.
Former Gov. Jeb Bush has agreed to return $270,000 that he was paid as a
consultant to convicted fraudster Claudio Osorio and Osorio’s
companies.
William January 20th, 2015 at 3:10 pm
Run Jeb Run