Ethics expert on Alan Grayson's hedge funds: 'I've never seen anything like this'
A conservative group called the Foundation for Accountability and Civic Trust and a supporter of Grayson’s primary opponent, Rep. Patrick Murphy (D-Fla.), have each lodged complaints with the independent Office of Congressional Ethics (OCE). They claim that Grayson has violated ethics rules by running the investment vehicle, which formerly bore his name.
The wealthy congressman maintains his dealings are above board, and there has been no official finding to the contrary. However, his managerial role with the funds, which have grown in value since Grayson was reelected to Congress three years ago, is seen as uncommon for a sitting lawmaker, experts say.
“He’s wading into uncharted waters, in terms of lack of precedent on this kind of thing,” said Kenneth Gross, the head of the political law practice at Skadden, Arps, Slate, Meagher & Flom and veteran congressional ethics expert.
“I’ve never seen anything like this before with a member of Congress,” Gross added. “I’m not saying it’s never happened, but I’ve never heard of it.”