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U.S. attorney sues GOP donor over unpaid trading penalty

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The federal government is suing a former Indianapolis businessman and major Republican donor to collect a $600,000 federal penalty for commodities trading violations.

The U.S. attorney's office sued Jerry W. Slusser on Thursday to collect the penalty from the Commodity Futures Trading Commission. Slusser, who now lives in Las Vegas, was found liable for multiple violations of the commodity exchange act in 1999, but the penalty wasn't imposed until 2006 after he filed numerous appeals.

Officials say Slusser has not made any payment toward the debt, which also includes interest.

Slusser was the owner of First Republic Financial Corp. (formerly known as Vancorp Financial Services) of Indianapolis, which misappropriated nearly $6 million of customer funds and made material misrepresentations and omissions of facts to customers in 1989.

Campaign finance reports on the Indiana Secretary of State's website show Slusser has donated $103,000 in cash and $148,000 in in-kind contributions to various GOP committees. Slusser has given to Gov. Mitch Daniels and his Aiming Higher political action committee.

Daniels' spokeswoman Jane Jankowski said Daniels didn't know Slusser when the violations occurred and was unaware of them.

Slusser had an unlisted phone number and couldn't be reached for comment.

Slusser's attorney, James Voyles, said in a statement that the case was without merit and would be "vigorously defended."

Voyles said the case stemmed from a business transaction in Europe some 22 years ago, and that the statute of limitations had expired.

"Mr. Slusser has fought this battle several times over the past 20 years, and we intend to fight it again and firmly believe we will prevail in the present issue," Voyles said.


 

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  • I know nothing
    How many of Mitch's buds are going to be have been under investigation? Are any of the donations to his run for gov, or aiming higher legitimate?
  • surprisesd?
    The Mitch Daniels house of cards.

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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

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