Categorized | General Interest

Dollar Bill Back In The News

CAFTA 15 Rep. William “I store $90,000 in my freezer” Jefferson is back in the news. The New York Times has a piece today that expands on Dollar Bill’s relationship with iGate. Here’s a bit from the story:

Soon after meeting Mr. Jackson in late 2000, Mr. Jefferson prodded the Pentagon to test one of iGate’s products, documents show. He recruited investors and did favors for iGate’s leading supplier. He also lobbied political leaders in Nigeria, Ghana and Cameroon to include iGate in telecommunications projects, while repeatedly urging the Export-Import Bank of the United States to finance the deals.

And each time the company seemed poised to take off, records show, Mr. Jefferson sought a greater share of the potential profits for his family.

His wife, Andrea, had a marketing contract with iGate; their eldest daughter did legal work for iGate and one of its investors; and Mrs. Jefferson’s brother-in-law was iGate’s chief engineer. Even before the congressman brought up the takeover proposal, he had arranged for a consulting firm owned by his wife and five daughters to receive nearly 31 million shares of iGate stock, roughly a quarter of the company, at no cost, documents show.

The F.B.I. has said that Mr. Jefferson also sought a substantial share of profits made by iGate’s partners in a Nigerian venture, and that a complaint from one of those investors prompted the investigation.

“Greed is one thing,” said William A. Warner, a former I.B.M. executive who had a contract to market iGate’s products. “But this guy took it to another level.”

Whew. Here’s the rest of the story.

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