Commerce Secretary

Report: Commerce Secretary Wilbur Ross allegedly helped siphon money from associates

It looks like Wilbur Ross; the commerce secretary knowingly overstated the wealth he had. According to the Forbes magazine, he exaggerated it from $2 Billion. There is a new report, and according to it the commerce secretary shows him as a businessman, and he had a part in siphoning about $120 from the business associates. At last a conclusion was driven by the lawsuits and the findings were gathered from the security exchange combination, and all this ended with a penalty. The report of the Forbes Magazine which was posted on Tuesday states that if not all but half of the accusations are valid and legitimate then the secretary of commerce, U.S. should be ranked top in the list of grifters in US history. The president of America, Donald Trump nominated the expert businessman to lead the department of commerce. This nomination was furthered confirmed by the Senate. On Tuesday the department denied all the accusations, and they also questioned the force behind that.

Forbes story about Commerce Secretary

In a formal statement given by the department, the secret source of the Forbes story is based on rumors and the claims could not be verified. They also said that there are no accusations against the secretary and this is just a personal dispute. They said that the allegations are baseless. There was another report published in December which stated that Ross had fabricated his wealth in the records to maintain his previous position as the Forbes most affluent Americans. The biggest story in this aspect is by 21 people who knew Ross. Some of those people were identified by their names, but the others remained unknown. There were a lot of lawsuits in the report mentioned in a series and also the penalty was specified. Among all the matters, one matter which was listed was about the year 2015. That suit was filed by David Storper who was a senior managing director with Ross. He remained the managing director from the year 2000 till 2012. This case of 2015 was later on settled with some fine and penalty. Other than this, in Forbes report a case of December 2016 was also mentioned which stated that Ross had looted the accounts of his employee. After some time a judge dismissed this case, but the former employee who accused Ross of this crime pursued an appeal.

Courtesy: USA TODAY

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