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Reply #4: Senate Ethics Committee & FEC disclosure discrepencies; [View All]

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Earth_First Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-22-06 06:49 AM
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4. Senate Ethics Committee & FEC disclosure discrepencies;
Hagel's campaign finance director, Michael McCarthy, now admits that Senator Hagel still owns a beneficial interest in the ES&S parent company, the McCarthy Group. ES&S counts approximately 60 percent of all votes cast in the United States. According to the Omaha World-Herald which is also a beneficial owner of ES&S, Hagel was CEO of American Information Systems, now called ES&S, from November 1993 through June 2, 1994. He was Chairman from July 1992 until March 15 1995. He was required to disclose these positions on his FEC Personal Disclosure statements, but he did not.

Hagel still owns up to $5 million in the ES&S parent company, McCarthy Group. But Hagel's office, when interviewed by Channel 8 News in Lincoln, Nebraska for the evening news on October 22, 2002, said he had sold his shares before he was elected. His office issued a fact sheet claiming that he had made full disclosure.

Last week, Hagel's campaign finance director, Michael McCarthy (currently an owner and a director of ES&S) admitted to Alexander Bolton of The Hill that Hagel is still an owner of ES&S parent company, the McCarthy Group, and said that Hagel also had owned shares in AIS Investors Inc., a group of investors in ES&S itself. Yet Hagel did not disclose owning or selling shares in AIS Investors Inc. on his FEC documents, a required disclosure, nor did he disclose that ES&S is an underlying asset of McCarthy Group, in which he lists an investment of up to $5 million in 1996, 1997, 1998, 1999, 2000, and 2001.

http://www.onlisareinsradar.com/archives/000896.php
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