Grand Old Police Blotter: Denny's Grand Slammer Edition

A Republican Party precinct committeeman has been defrauding investors using a pitch which included tours of the office of Denny Hastert, Republican Speaker of the House, according to this report. The alleged scum's victims include disabled wards of the state:

CHICAGO -- A Kendall County Republican precinct committeeman has been charged with swindling more than 40 investors out of nearly $2 million, gaining their confidence in part by dropping big names -- including that of House Speaker Dennis Hastert.

Frank T. Devine, 55, of the 0-99 block of Century Drive in Oswego, was charged this week with wire fraud in a criminal complaint announced in U.S. District Court.

The complaint alleges that Devine "used many of his connections he has made through his business and political dealings" to gain investors' trust. He is accused of operating an investment operation like a Ponzi scheme, where early investors are paid off with money put up by later investors and are misled about the funds' actual earnings.

One of the investors allegedly defrauded told FBI investigators that Devine gave the person a tour of Hastert's Washington office, the Capitol building and congressional chambers.

While inside the Capitol, Devine discussed tax shelters and investment strategies. After the tour, the investor put down an additional $85,000 to $100,000 to invest in one of Devine's programs....

Hastert spokesman John McGovern called tours of congressional offices "routine" and said the office knew nothing of Devine's scheme.

"Like most political activists in our district, he is an acquaintance of our office, but we are unaware of the specific allegations contained in these [charges]," McGovern said....

Fox said the fraud started in 2000. Some of the alleged victims include Florida state wards whose accounts are operated by third parties because of their disabilities or injuries and at least two other Kendall County GOP committeemen.

Republican fraud in Florida in 2000. Hard to believe.

Strangely, the FBI has already exonerated Hastert of any wrongdoing, and Hastert denies any complicity, despite Devine's alleged use of the Speaker's office space in furtherance of the con. Perhaps Denny though Devine was using the tours to con people into giving money to the G.O.P., instead of pocketing it himself.

(Thanks to a reader for the link.)