Those dreadful democratic socialists at Forbes have been on the case of Secretary of Commerce Wilbur Ross virtually alone. It turns out that (allegedly) Ross takes a back seat to nobody in this administration* when it comes to a career on the grift. The latest comes out of a lawsuit that was settled between Ross and an equity fund manager who charged that Ross had managed his equity funds into Ross's equity funds. This guy, as it turns out, was not alone.

Over several months, in speaking with 21 people who know Ross, Forbes uncovered a pattern: Many of those who worked directly with him claim that Ross wrongly siphoned or outright stole a few million here and a few million there, huge amounts for most but not necessarily for the commerce secretary. At least if you consider them individually. But all told, these allegations—which sparked lawsuits, reimbursements and an SEC fine—come to more than $120 million. If even half of the accusations are legitimate, the current United States secretary of commerce could rank among the biggest grifters in American history.

A few million here, a few million there, pretty soon you're talking about real money. This guy, as a cop once told a reporter friend of mine, wears suits with rubber pockets so he can steal soup. Allegedly.

Not that he sees himself that way. “The SEC has never initiated any enforcement action against me,” Ross said in a statement, failing to mention the $2.3 million fine it levied against his firm in 2016. The commerce secretary also noted that one lawsuit against him got dismissed, without saying it is currently going through the appeals process ... Those who’ve done business with Ross generally tell a consistent story, of a man obsessed with money and untethered to facts. “He’ll push the edge of truthfulness and use whatever power he has to grab assets,” says New York financier Asher Edelman. One of Ross’ former colleagues is more direct: “He’s a pathological liar."

Birds of a feather...blot out the sky.

Cheriss May Getty Images

On November 1, 2017, Ross signed a sworn document, attesting that he had divested all the assets he promised he would. That was not true. The commerce secretary in fact still owned somewhere between $10 and $50 million worth of stock in WL Ross’ parent company, Invesco. Ross sold his shares a month later, banking at least $1.2 million more than he would have if he sold in May, when he initially promised to divest. By falsely claiming he gotten rid of the shares earlier, Ross also put himself in legal jeopardy, since it is a crime to lie to federal officials. Representatives for Ross, a sophisticated investor, claimed the commerce secretary did not lie but instead failed to realize he owned the shares.

Ross also said he did not know he had a $73,000 stake in a company named Air Lease, which he finally sold in June—more than a year after he promised he would. And he admitted to shorting stock of Sun Bancorp, saying he hoped to cancel out an interest he mistakenly thought he owned but in fact did not. “For any head of any private equity firm that I know of, including like [Carlyle’s David] Rubenstein or [Blackstone’s Stephen] Schwarzman—these guys know what they own. It’s their whole business. It’s their whole life,” says an investor in WL Ross’ funds, terming the commerce secretary’s explanation “ridiculous.”

Allegedly, Ross treated his clients the way that his current boss used to treat glaziers and landscapers. "Nothing but the best people" is never not going to be funny.

Update (5:38 p.m.): Secretary Ross has issued a statement:

The anonymously sourced Forbes story is based on false rumors, innuendo, and unverifiable claims. The fact remains that no regulator has made any of these accusations against the Secretary. This rehash of old stories is clearly the result of a personal vendetta. The baseless claims made in this story were well publicized long ago and are not news.

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Charles P. Pierce Charles P Pierce is the author of four books, most recently Idiot America, and has been a working journalist since 1976.

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