A Democratic Congressman Lost $18 Million In An Investment Fraud Scheme

Rep. Alan Grayson (D-Fla.) lost $18 million in an investment fraud scheme that cheated him and other investors out of approximately $35 million, the Associated Press reports. William Dean Chapman, the Virginia man who was at the head of the scheme, was sentenced to 12 years in prison for the scheme.  The AP details how it worked (or was supposed to): The scheme worked like this: clients would turn over their stocks to Chapman as collateral for a loan, and Chapman would let customers borrow abou...