Authorities in Denver have ordered the arrest of Steve Bachar, a longtime Clinton operative and “socially responsible” investor who has been charged with felony theft and securities fraud.
The former co-chair of the Clinton Global Initiative is also under investigation for unrelated allegations that he mishandled millions of dollars allocated for personal protective equipment at the height of the COVID-19 pandemic.
Bachar is accused of stealing as much as $1 million and lying to an investor “in connection with the offer, sale or purchase of a security,” according to the criminal complaint filed by the Denver district attorney’s office.
The crimes are alleged to have occurred between October 2017 and August 2018. The former Clinton operative told the Denver Post the criminal charges were “outrageous, unfounded, and false,” and he looks forward to letting “the facts come to light.”
Bachar, who served as White House advance lead and in the Treasury Department under former president Bill Clinton before joining the Clinton Global Initiative, also served on the national finance committee for Hillary Clinton’s failed presidential campaign in 2016 and as an adviser to former governor John Hickenlooper (D., Colo.).
His private sector career as a corporate attorney and cofounder of Empowerment Capital Management was focused on “socially responsible investing.”
This is not the first time the socially responsible investor has been accused of serious wrongdoing. In 2020, at the height of the COVID-19 pandemic, Bachar allegedly pocketed nearly $2 million from health care companies that believed they were purchasing life-saving personal protective equipment such as masks and gowns.
This is an excerpt from The Washington Free Beacon.
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