Report Reveals Antigua Banker Biggest Donor To Daschle Committee

by Leroy Baker, Tax-News.com, New York

07 March 2002

A report released this week by Washington-based interest group, Public Citizen, has revealed that the owner of one of Antigua's largest banks was one of the largest contributors to Senate Majority Leader Tom Daschle's 'soft money' fund raising committee.

The report revealed that R. Allen Stanford, who has dual citizenship in the US and Antigua, gave a total of $448,000 in loosely regulated 'soft money' donations to the Republican and Democrat parties, and that he also donated $40,000 to Daschle's political action committee, DASH PAC (Dedicated Americans for the Senate and the House).

Eyebrows have been raised due to the vigorous lobbying of Stanford and his company, Stanford Financial Group, over anti-money laundering legislation which was defeated by a Senate Banking Committee in 2000, having been passed by the corresponding House Banking Committee.

However, both DASH PAC and Mr Stanford have denied accusations that the donations were intended to influence Daschle, who became Senate Majority Leader during the period in question. 'This is a businessman in the United States making a legal contribution and participating in the political process,' explained DASH PAC Spokeswoman Anita Dunn. Stanford has also stated that he did not donate money to the committee in order to influence the course of the legislation, explaining that neither he, nor anyone from his firm ever spoke to the Senator regarding the bill.

However, Public Citizen's Legislative Representative, Steve Weissman, expressed doubts as to the veracity of the Antigua banker's protestations, obseving that: 'Presumably, his corporation doesn't just give money to someone because it likes him.'

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