Teddy Bear Collector Admits Stealing San Diego County Pension $

Paul Greenwood

Bow-tie wearing hedge fund founder Paul Greenwood has pleaded guilty to defrauding San Diego County’s pension and other big institutional investors of at least $331 million.

Greenwood and partner, Stephen Walsh, ran WG Trading, which collapsed with $78 million of San Diego County retirees’ money.

“You treated these investments as your own personal bank accounts?” U.S. District Judge Miriam Cedarbaum in Manhattan asked Greenwood during his plea hearing yesterday.
“Correct,” said Greenwood, who said he and Walsh often paid investors back using funds from other investors.
Greenwood used part of the money to acquire a collection of rare teddy bears and other stuffed animals.
The San Diego County Employees’ Retirement Association is suing to get its money back.

Former Clinton official Mark Lindsay is “educating” Congress on Mina/Red Star

Add another name to the troupe of lobbyists that the super-secret U.S. defense contractor Mina Corp/Red Star has dispatched to Capitol Hill.

Mark F. Lindsay has registered with both houses of Congress as a lobbyist for the company at the center of a congressional inquiry over $1.4 billion in contracts awarded to supply jet fuel to the U.S. airbase in Kyrgyzstan.

Lindsay describes his job as “work[ing] with the Administration and Congress to educate them on the mission of Mina Corp./ Red Star Enterprises Ltd.,” according to the registration form received by the House and Senate July 26.

Congress is investigating whether Mina/Red Star’s “mission” involved payments to the family of a corrupt former Kyrgyz president.

Lindsay was hired by Weil, Gotschal & Manges, which appears to be coordinating Mina Corp.’s response to the dirt kicked up by the Rep. John Tierney and his Subcommittee on National Security and Foreign Affairs of the House Committee on Oversight and Government Reform.

The registration was made in Lindsay’s role as president of White House Consulting Inc., which shares the address of of Lindsay’s employer, The Livingston Group. Lindsay joined the The Livingston Group to run its health care practice last year.

Lindsay was a member of the Obama transition team and ran the Office of Management and Administration in the Clinton White House.

The lobbyist filings exempt Mina, a foreign corporation seeking to influence the U.S. government, from the much more stringent filings required by the Foreign Agents Registration Act.

Under FARA, Mina would be required to reveal the names, residences and nationalities of its directors and officers — the precise information it has worked so hard to conceal.

However, FARA provides an exemption for foreign corporations whose agents register under the weaker Lobbying Disclosure Act.

As a senator, Barack Obama in 2008 co-sponsored a bill that would have eliminated this exemption, the “Closing the Foreign Lobbying Loophole Act.” The bill died in the Foreign Relations Committee.

Out on Bail, Brent “The Enigma” Wilkes Plays His Cards Right

Brent "The Enigma" Wilkes

A “58-year-old retiree” is how Ultimatepoker.com described Brent “the Enigma” Wilkes after he won $10,900 in a March No-Limit Hold-’em poker tournament at Harrah’s Rincon Casino.

Sporting his new chin strap, Wilkes is a self-described “former executive consultant who is now retired and is spending much of his time writing and playing poker,” Ultimatepoker.com tells us.

He’s also a former defense contractor who was convicted of bribing former Rep. Randy “Duke” Cunningham with prostitutes, luxury vacations and other goodies.

Since he bailed out of prison while he appeals his conviction, The Enigma sure has been playing a lot of poker.

He made it to the finals at last year’s Rincon series, coming up just short of victory on each occasion.

Fans of the Randy “Duke” Cunningham scandal will recall that Wilkes was a life-long poker player. According to testimony at his trial, one of the ways Wilkes bribed Cunningham was by letting the old pilot win at poker.

Wilkes and his best friend, former CIA honcho Kyle “Dusty” Foggo, who’s now serving time in prison for fraud, hosted regular poker games at the Watergate Hotel that were the subject of much (mostly unfounded) speculation.

Irwin Jacobs one of decade’s biggest earners

Irwin Jacobs

San Diego’s Irwin Mark Jacobs is No. 15 on the list of the decade’s top earners at publicly-traded companies, a Wall Street Journal analysis has found.

The Journal put the Qualcomm founder’s total realized compensation at $436.8 million for the period of 1999-2008. Jacobs served as Chairman of the Board of Directors from July 1985 to March 2009 and as Chief Executive Officer of the Company from July 1985 to June 2005.

For investors, Jacobs’ performance as CEO landed Qualcomm in the middle of the pack of the companies on the Journal’s list. An investor who bought $100 worth of Qualcomm shares wound up with $191.90 over that period.

The bulk of Jacobs’ compensation came in gains on stock options, which netted him $419.5 million.

Forbes estimates Jacobs’ total fortune at $1.6 billion, making him the 220th wealthiest American on the magazine’s annual ranking.

Topping the Journal’s list was the $1.84 billion realized by Oracle CEO Larry Ellison.

Palin spokesman also part of the Mina/Red Star team

W. Taylor Griffin

McCain/Palin campaign spokesman W. Taylor Griffin is coordinating the public relations response to Mina Corp., the secretive defense contractor that is the subject of a congressional investigation into its fuel contracts for a U.S. airbase in Kyrgzystan.

Griffin is a partner in Hamilton Place Strategies LLC, the PR firm that, as I reported yesterday, employs former White House Press Secretary Dana Perino and her former colleague, Tony Fratto.

As part of the Palin team, Griffin led a crisis communications team that dealt with the “Troopergate” affair.

Griffin was part of the communications team for the 2000 and 2004 Bush presidential campaigns, and did a stint in the Treasury Department’s Office of Public Affairs and the Senate Foreign Relations Committee.