Wilbur Ross Accused of Stealing 120 Million Dollars

Tarriff aficionado and Thief, Wilbur Ross

Apparently there’s been a tad too much news recently, and more than a few important things have slipped under the radar. Our Commerce secratary has been involved in a lawsuit for several years in New York State, where a private equity manager named David Storper at WL Ross & CO accused his former boss (Ross) of unlawfully transfering $120 million worth of holdings in a private equity fund into his own name.

Ross is reportedly worth over $700 million dollars, but the Forbes article link below outlines that people who really know Mr. Ross weren’t surprised by the accusation at all. The lawsuit was settled for an undiscloed amount several weeks ago.

Doubtless he moved the assets offshore to the Bank of Cyprus, where he is Vice Chair. The Bank of Cyprus is one of the financial institutions Russian oligarchs use to hide the money they’ve stolen in Russia and Ukraine.

Forbes: Wilobur Ross, Grifter