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Longtime Clinton Global Initiative co-chair arrested for securities fraud and felony theft

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Attorney Steve Bachar, who is a longtime associate of Bill and Hillary Clinton, was arrested on felony theft and securities fraud Tuesday in Denver, Colorado, and then granted 25,000 personal recognizance bail and released on Thursday.

Bachar, 56, is touted as a “socially responsible” investor. The former co-chair of the Clinton Global Initiative is also under investigation for the mishandling of millions of dollars allocated for personal protective equipment during the pandemic.

According to the criminal complaint filed by the Denver district attorney’s office, he is being accused of stealing up to $1 million then lying to an investor “in connection with the offer, sale or purchase of a security.” The alleged crimes are said to have taken place between October 2017 and August 2018. Bachar told the Denver Post in an interview that the charges are “outrageous, unfounded, and false,” and he is looking forward to letting “the facts come to light.”

“Steven Charles Bachar, in connection with the offer, sale or purchase of a security, directly or indirectly, unlawfully, feloniously and willfully made an untrue statement of material fact or omitted to state a material fact necessary in order to make the statements made… not misleading,” the district attorney’s office said in a statement.

He served under former President Bill Clinton as White House advance lead and in the Treasury Department before he co-chaired the Clinton Global Initiative. Bachar served on the national finance committee for Hillary Clinton’s failed presidential run in 2016. He was also an adviser to former governor John Hickenlooper (D-CO).  The attorney is the cofounder of Empowerment Capital Management.

The former Clinton operative has been in hot water before. He was also accused of taking almost $2 million from healthcare companies that thought they were purchasing life-saving personal protective equipment such as masks and gowns in 2020.

Bachar allegedly agreed to sell a Denver-based healthcare agency called DaVita Inc. 4,200 cases of N95 masks for $2.4 million in April 2020. He reportedly never delivered the goods and did not return their initial payment of $604,000 according to a lawsuit.

He is also in a lawsuit with a second healthcare company named Future Health Company according to the Denver Post. They claim that Bachar failed to pay for millions of medical gowns.

He was ordered to pay nearly $4.5 million to the companies he allegedly defrauded but has not done so yet.

“This was nothing more than a simple business dispute between partners,” Bachar claimed. “Importantly, all of the PPE that has been ordered has either been received or will be over the next several days, providing critical help to frontline workers.”

He offered a number of excuses for failure to deliver the money involved in the deals, including his business partner having a stroke, a surprise trip to the emergency room, being unable to complete the transfer online, and his accountant being “swamped.”

The attorney was arrested at the Van Cise-Simonet Detention Center Tuesday evening

County Court Judge Tanya Wheeler granted Bachar bond in a brief appearance Thursday morning after noting that the defense and prosecution had agreed on the amount and terms of his bail. Bachar won’t be required to wear an ankle monitor but he will be supervised by pretrial services for 90 days and required to follow their protocols.

Bachar is the subject of a review by the Office of Attorney Regulation Counsel in Colorado, the Denver Post reported, citing information from the bureaucracy that oversees discipline for lawyers.

This follows another Clinton-related story where a billionaire investor, who is ostensibly linked to both former President Clinton and deceased pedophile Jeffrey Epstein, has reportedly donated twice to Virginia gubernatorial candidate Terry McAuliffe. The Clintons are still very much in the news.

Ron Burkle, who is a businessman who reportedly owns a private jet that is nicknamed “Air F*** One,” donated $100,000 to McAuliffe’s campaign in 2020 and another $100,000 in September of this year, according to Fox News.

Social media seized on the Clinton connection:

 

 

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