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IPFS News Link • Economy - Economics USA

Busted! Adam Schiff Funneled Millions To Defense Contractors After Taking Donations

• https://www.zerohedge.com, by Tyler Durden

According to an investigation by Politico, Schiff "has offered an incomplete and potentially misleading account of his record on earmarks."

A POLITICO review of congressional earmarks and political contributions found that in addition to the money for homelessness and drug treatment, Schiff also steered millions to for-profit companies and raised tens of thousands for his House reelection campaigns from corporate executives and people connected to them. The review was mostly limited to publicly available data from the brief three-year window when corporate earmarks were disclosed.

In two particularly egregious cases, Schiff channeled millions in funding to Smiths Detection and Phasebridge, Inc., two defense companies within his district - with $6 million steered to Smiths Detection and $3 million to Phasebridge. Both moves would have been barred under reforms adopted in 2010. This financial maneuvering coincided with Schiff receiving $8,500 in contributions from PMA Group PAC and two family members of Paul Magliocchetti, founder and owner of the lobbying firm retained by both defense companies.

In 2011, Paul Magliocchetti was sentenced to 27 months in prison for making illegal campaign contributions.

Schiff claims not to have a full accounting of his earmarks.

The Congressman's campaign has been quick to minimize these connections, emphasizing the small proportion of these contributions in his overall fundraising and underscoring his commitment to ensuring Californians' tax dollars work for their benefit. In a boilerplate response, spokesperson Marisol Samayoa said: "Californians know and trust Adam's record of getting things done, and as a U.S. senator, he will do what it takes to ensure Californians' tax dollars are put to work for them and their priorities," adding "These contributions amount to less than one tenth of one percent of what Adam has raised over 20 years in Congress, and were driven by what was best for our troops and his constituents. It is ridiculous to suggest otherwise."


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