On his way out door, Richardson plays shell game with funds
Friday, January 8th, 2010Jim Walls, that free-radical investigator, has a great piece on his Atlanta Unfiltered blog suggesting that a recent financial sleight-of-hand by outgoing House Speaker Glenn Richardson may not only have been sneaky and underhanded, but illegal, to boot:
On Dec. 31, a day before Richardson’s resignation took effect, he cleaned out his re-election campaign’s bank account with the transfer of $219,915 to the MMV Alliance Fund. The fund filed its 2010 registration on Dec. 30 naming Richardson as its new chairman.
You may recall from an excellent 2006 AJC expose that the MMV Alliance Fund is the state GOP’s own political slush fund. But Walls points out what could be a hitch in this sleazy undertaking:
MMV does not appear to be among the organizations that may legally accept unused campaign contributions. Under Georgia law, political campaigns may give excess funds to IRS-recognized charities; educational, philanthropic and non-profit organizations; other candidates; or political parties.
MMV, a political action committee created in 2004, is none of those. It is not registered as a corporation in Georgia, non-profit or otherwise; a spokesman for the Georgia Secretary of State said late Thursday that the agency had received no request from MMV to register as a corporation. Nor does the committee show up in the IRS’s searchable database of tax-exempt groups.
Because of Richardson’s money transfer, the PAC now boasts upwards of a quarter-million dollars in slushable funds. Let’s hope that when the House addresses the issue of ethics in coming weeks, it takes a close look at MMV and similarly slimy enterprises.













