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Nikki Haley’s Super Shady NYC Friend




|| By FITSNEWS ||  This weekend’s editions of The Wall Street Journal carried the bizarre story of Alexander Chatfield Burns – who claimed to be a Yale graduate and Mayflower descendant but in reality was nothing but a white collar scam artist.

Why do we care?  Well, Burns duped a pair of South Carolina insurers out of tens of millions of dollars … while donating big bucks to the 2014 reelection campaign of governor Nikki Haley.

According to Delaware officials, Burns’ private equity firm – Southport Lane Management LLC – made off with millions of dollars in insurance holdings which it replaced with assets that were “illiquid, grossly over-valued or hard to value, worthless, and in some cases non-existent.”

“Insurance-company losses total nearly $250 million, based on write-downs taken, while insurers still hold tens of millions of dollars in other questionable assets, according to insurance regulatory filings and court documents,” reporters Mark Maremont and Leslie Scism of the Journal reported.

Wow …

Roughly a year ago Burns checked himself into a mental hospital in New York.  Sometime over the last twelve months he relocated to Charleston, S.C. – which those who have ever watched the reality television show Southern Charm know might as well be a mental hospital.

Anyway …

What led Burns to the Palmetto State?

Well, according to Maremont and Scism’s piece …

One of the South Carolina insurers for which (Burns)’ company managed trust money booked a $113 million loss from it in last year’s third quarter. Two other insurers that Southport either owned or managed money for also had about $40 million face value of illiquid assets.

Ouch …

In 2013, Burns hosted a campaign fundraiser for Haley in New York City – raising nearly $30,000 from entities affiliated with his firm.  Of course Haley’s office told the Journal that she and Burns “didn’t discuss state business at the fundraiser, and he never sought help with insurance matters during the several times they met.”

Wait … what?  

How many times did they meet?  And if they didn’t discuss state business at the fundraiser, did they discuss it when they weren’t at the fundraiser?  And if Burns never sought help from Haley during one of their “several” face-to-face meetings, did he do so over the phone?  

Seems like a pretty carefully worded “non-denial denial” if you ask us …