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Lt. Gov. Dewhurst under Scrutiny over Finances PDF Print E-mail
by Tom McGregor    Sat, Jul 18, 2009, 11:56 AM

Dewhurst Finances.jpgMultimillionaire Lt. Gov. David Dewhurst, who has sparked criticism for revealing few details about his vast wealth, amended past financial filings Friday and disclosed information including his stake in numerous investment firms.

The Houston Chronicle reports that, "the Republican sent the Texas Ethics Commission two corrected financial statements covering 2007 and 2008 filings. The new disclosures show Dewhurst holds a stake in several funds, including assets managed by Goldman Sachs, Lehman Brothers and the TCP Investment Fund II L.P."

Last September, a watchdog group filed a formal complaint with Travis County prosecutor after the Associated Press raised questions about the lack of details in his personal financial statements. Travis County District Attorney David Escamilla, a Democrat, also investigates allegations of misdemeanor offenses by public officials, said his probe is completed.

Escamilla said, "by them agreeing to move forward and file the amended reports, we believe there is no question that they're in compliance."

According to the Chronicle, "Escamilla said he hired a forensic accountant to pore over Dewhurst's tax returns to determine whether he had violated the law. Escamilla said he found no 'intent to deceive' on Dewhurst's part but called on the the ethics commision or Legislature to clarify often vague legal requirements."

Dewhurst claimed his failure to disclose the financial information was "inadvertent" and emphasized he had carefully followed attorneys' advice of in filing his disclosures.

A written statement by Dewhurst is quoted as saying, "I appreciate the professional and thorough manner in which the Caounty Attorney conducted his review."

As reported by the Chronicle, "earlier disclosures did not reveal that the former CIA agent, through a privately held trust, was a major shareholder in a Houston energy and investment company. There also was no mention of Dewhurst's far-flung cattle ranches, private bank investments or luxury condo. Nor was there any word of the hedge funds, stocks and bonds or publicly traded fueldistribution company he acknowledges are or have been part of a trust fund estimated to be worth up to $200 million."

To read the entire article from the Houston Chronicle, link here:

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Comments (1)add comment
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written by fairview kid , July 20, 2009

Just another wealthy politician . It would be very interesting to calculate how much of his money comes from tax breaks and legislation.

He will make a great governor someday.




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