| For Immediate Release Feb 3, 2002 |
Contact: Press Office 202-646-5188 |
DNC’s Terrence McAuliffe Turned $100,000 Investment Into $18 Million (Company’s Accounting Practices Questioned) Company’s Chairman Was Major Donor To Clinton Library -- Received Questionable Pentagon Contract (Washington, DC) Judicial Watch, the public interest law firm that investigates and prosecutes government corruption, announced that it would investigate Democratic National Committee Chairman Terrence McAuliffe’s ties to Global Crossing, which recently made the fourth largest bankruptcy filing in history. During the 1990's, McAuliffe reportedly turned a $100,000 investment in the company into a $18 million profit. McAuliffe also reportedly did “political” work for the company’s founder Gary Winnick. After his windfall profits, McAuliffe set up a golf outing for Winnick and then President Bill Clinton. Winnick later donated at least $1 million to Bill Clinton’s Presidential Library. (Judicial Watch had sued McAuliffe over his illegal million dollar plus mortgage guarantee for the Clintons’ house in Chappaqua. McAuliffe backed out of the deal.) Reports in The Los Angeles Times show that Global Crossing’s bankruptcy may have resulted from the same type of corrupt accounting practices as Enron’s. Questions have also been raised about a $400 million dollar contract, set in motion by the Clinton Administration, awarded to Global Crossing by the Pentagon last year. Internet reporter Matt Drudge has also detailed Global Crossing’s contributions to Democratic Senator Tom Daschle and Democratic Congressman Henry Waxman. As it is has done in the Enron affair, Judicial Watch today is filing Freedom of Information Act (FOIA) requests with various government agencies concerning Global Crossing and is considering shareholders lawsuits against the entity as well. “The big question is what did Global Crossing’s Gary Winnick get as a result of his golf outing and million dollar gift to Bill Clinton. Terry McAuliffe’s astonishing profit reeks of potential insider trading, especially given his role in selling government favors for campaign contributions during the Clinton years,” stated Judicial Watch Chairman and General Counsel Larry Klayman. Anyone with information about Global Crossing, Gary Winnick, or Terrence McAuliffe in this matter, please contact Judicial Watch at 202-646-5172. | |