By Matt Dixon From Politico

Says Orlando Democrat commited ‘obivious’ violation

TALLAHASSEE—A conservative watchdog group is asking the House Office of Congressional Ethics to investigate Rep. Alan Grayson for using his name in hedge funds he manages.

POLITICO Florida reported on June 30 that three funds overseen by the Orlando Democrat use his name in their titles, which violates House ethics rules designed to prevent members from using their elected posts for financial gain.

“This is not simply a technical violation, but rather a violation that implicates fundamental goals of the ethics rules—to ensure that members fulfill the public trust,” says a letter written by Matthew Whitaker, director of a Washington-based group called the Foundation for Accountability and Civic Trust.

The letter was sent to former Democratic congressman David Skaggs of Colorado, who serves as co-chairman of the Office of Congressional Ethics, which was established in 2008 to investigate misconduct allegations against House members and staff. Between 2013 and 2014, the office referred 17 cases to the full House ethics committee, which can choose to either investigate or toss the referrals.

The three funds are Delaware-based Grayson Fund L.P. and Cayman Islands-based funds called Grayson Master Fund (Cayman) Ltd. and Grayson Fund (Cayman) Ltd. The domestic fund has two investors and $13.2 million in sales.

Grayson said in an email late last month that the ethics rule does not apply to his hedge funds because he has no “fiduciary responsibility” over the funds. Four business and law experts interviewed by POLITICO Florida said that explanation made no sense, and that Grayson should have a fiduciary duty over the funds.

Asked for comment, Grayson said via a spokesperson that the “complaint is completely unwarranted.”

Grayson is widely expected to announce a bid for the U.S. Senate seat being vacated by Marco Rubio, who is seeking the Republican nomination for president. He would face Rep. Patrick Murphy of Palm Beach County in the Democratic primary.

Whitaker served as the U.S. Attorney for Southern Iowa from 2004 to 2009. He was appointed by former President George W. Bush.

His group, which calls itself “non-partisan,” has filed complaints with the Federal Election Commission alleging Democratic firms and local parties are illegally sharing voter data, and filed a separate F.E.C. complaint against former secretary of state Hillary Clinton after her presidential campaign got a massive email list from her political action committee.

You can see the group’s letter here: http://bit.ly/1UsMqkY

IMAGE: Getty

For more on this story go to: http://www.politico.com/story/2015/07/conservative-group-calls-for-grayson-ethics-probe-119772.html#ixzz3fFAD6jNo