How professionally embarrassing:

Freshman Rep. Grayson Taken to Cleaners in Ponzi Scheme

Freshman Rep. Alan Grayson (D-Fla.) lost $3 million in a stock swindle between 2000 and 2005, a Florida television station reported this week.

According to Orlando’s Local 6, Grayson was an investor in a Ponzi scheme run by the company Derivium Capital.

The usual too-good-to-be-true-and-it-was kind of situation; not to imply anything about the Congressman’s mental prowess, of course. Or judgment. Or even native good sense. Still, good thing that he’s no longer in a position where he’s obliged to play with money, huh?

[Grayson] is a member of the Financial Services Committee.

…Never mind.

Moe Lane

Crossposted to Moe Lane.