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The July 31st wedding of 30-year-old Chelsea Clinton and 32-year-old Marc Mezvinsky has put the young couple on the front pages of many magazines. Young brides-to-be are swooning over the bride's gown. Much less has been written about her groom, Marc Mezvinsky, biological child of Edward Mezvinsky and his former wife Marjorie Margolies-Mezvinsky. We all read with misty eyes how Marc saved the tee-shirt he was wearing when he first met Chelsea at age 16 at a political Renaissance Weekend in Hilton Head, South Carolina in 1993. She was 13 and he was 16; both of their families were in politics. Later, when Chelsea was shopping for colleges, young Marc Mezvinsky would show her around Stanford, where he was then a student and both studied finance. There were even some who said that young Chelsea was selecting Stanford because Marc Mezvinsky was a student there. They began openly dating in 2005 and she was by his side when he toured and bought the 2,000 square foot $3.8 million-dollar condo in the Flatiron district of Manhattan. Marc works at the hedge fund G3 Capital and was previously an investment banker with Goldman Sachs. His worth has been estimated as at least $6 million and girlfriend Chelsea Clinton, who works for Avenue Capital Group, post-graduation, has been living nearby in Gramercy Park. (www.PoliticsDaily, Emily's Post by Emily Miller, December, 2009). As Marc Mezvinsky became the husband of Chelsea Clinton, Bill Clinton was quoted on television saying, "He's great. He's a great human being." So, exactly where did Marc Mezvinsky come from? Who are his parents? Some stories have reported Marc Mezvinsky as estranged from his father, former Iowa Congressman Edward Mezvinsky, and here's why. Edward Mezvinsky, Marc's father, got off to a great start as an Ames High School graduate who played on the 1955 state championship basketball and track teams, was an All-State football end, and went on to earn two terms in Congress from Iowa's 1st District (1973-1977.) (www.wikipedia.com). Even before that, former employer Neal Smith, who hired him in 1965, said, "Everybody thought Ed was an up-and-coming smart young man." His University of Wisconsin football scholarship was followed by a law degree from either the University of California at Berkeley or the University of California Hastings College of Law in 1965, depending on the source. Ed was the son of Abe Mezvinsky, a Ukrainian immigrant who came to America with only $5 in his pocket, sold fruits and vegetables, and went on to head a small supermarket chain in central Iowa. When his standout athlete son Ed came to him and told him of his political aspirations, Abe said, "Can you make any money in politics?" Ed answered, "Not if you're honest." Abe responded, "Then why are you doing it?" Although Ed went into politics, anyway, the honest part went by the wayside. At age 66 an elaborate series of almost Bernie Madoff-like scams came home to roost and 10 FBI agents raided the family mansion on January 27, 2000 and carted off 80 boxes of incriminating documents that eventually sent the then- 66-year-old Mezvinsky 80 months in a federal prison. Now 73, he's divorced from Marjorie Margolies-Mezvinsky, which occurred during the height of the scandal. When the raid came, Mezvinsky was living in an 8,200 square foot mansion in the Main Line neighborhood of Philadelphia with the second wife he married in 1976 (after dumping first wife of 10 years, Myra Shulman of Waterloo, Iowa following his re-election, in 1974.) He separated from his first wife, the mother of four of his daughters, after only 6 months in office and, following his '˜74 re-election, they divorced. He met up-and-coming reporter Marjorie Margolies when she was covering a story on a bill Mezvinsky championed that would allow the offspring of Korean lepers to settle here. They married in 1976. Today, Ed Mezvinsky knows a little bit, up close and personal, about being a political leper. One source even entitled its article "Will Father of the Groom Be Welcome Figure at Chelsea Clinton's Wedding?" (The Blotter from Brian Ross, Dec. 1, 2009, by Joseph Rhee and David Sandholm). As federal prosecutor Ziazmer put it, "In Mezvinsky they had a perfect man. His whole life, he wanted the home run. He didn't want to operate a business. He wanted to make millions in one home run." So, what, exactly, were the things that sent Ed Mezvinsky to jail on February 10 and kept him there for 5 years, until his release on April 11 of 2008? (He's still on probation until 2011.) Believe it or not, much of Mezvinsky's scheming involved that age-old Nigerian advance-fee scam scenario that we all know from the Internet. Considering that it is Nigeria's second largest industry, after oil, the scam does not die, and Ed Mezvinsky got caught up in that scheme, plus others involving oil. After he married Marjorie Margolies and his political star faded in Iowa following two terms in office (he was beaten by Jim Leach, R, IA, who now serves Obama), the pair moved to Philadelphia, where they had to make do with a 6-bedroom, 5-bathroom house with a ballroom, a greenhouse, a carriage house with 4 bedrooms, an in-ground pool, and a poolhouse that had a kitchen and 3 bathrooms. At one time, 15 Mezvinsky family members shared the mansion, including Ed's four daughters from his first marriage, the 2 girls adopted by Marjorie Margolies when she was a single 27-year-old woman (among the first single women in the United States to adopt children, one daughter from Korea, one daughter from Vietnam), 2 biological sons (of whom Marc is one), and 3 foreign children from Vietnam for whom the Mezvinskys served as guardians. In fact, Marjorie Margolies-Mezvinsky estimates that they parented up to 25 children during their marriage, which ended in the midst of Ed's arrest and prosecution for 69 charges of bank fraud, mail fraud and wire fraud involving $10 million dollars. (He pleaded guilty to 31 counts). As the federal prosecutor said at the time, "Mezvinsky must have been a con artist's dream: an apparently upstanding American politician who's financially ambitious and has access to wealthy friends and banks only too happy to lend him money." (CNNMoney.Com, July 1, 2002, "The Scam That Will Not Die: Nigerian Advance-fee Scams Have Fooled Americans for Decades. Thanks to the Internet, They're Now Staging A Disturbing Resurgence," by Peter Carbonari.) The 419 scam, as it known in the Nigerian penal code, cost Americans $100 million in the 3 years between 2000 and 2002. It only costs a Nigerian national about $3 (few hundred "nairus") to set up such a fraud. Edward Mezvinsky's name began appearing on the list of suckers who fell easily, which federal prosecutor Robert Zauzmer termed "a sort of mailing list of potential victims." Between 1995 and 2000, the elder Mezvinsky would funnel $13.3 million into his accounts, of which $2.6 million went to con men of the Nigerian sort. Prosecutors later said that from 1980 on, "Mezvinsky got involved in a series of shady dealings." Who were some of the people that Ed Mezvinsky defrauded? One of them was his own mother-in-law. Another victim who lost $1 million was a certified financial planner from Florida. An Italian businessman lost $1.2 million between January of 1998 and January of 1999. A retired Pennsylvania business executive lost another $1 million in 1999. Virginia investor David Sonders, (whose lawsuit eventually outed Mezvinsky's schemes), lost $500,000 when Mezvinsky promised to hold the money in trust at a U.S. bank, risk-free, and pay him a hefty return on his investment, in this case $247,000. Merle and Teresa Miller of Iowa City, Iowa invested $150,000, but, like many Ponzi schemes, those who scream the loudest are ultimately repaid, as they were, with money from others. Joe Klieber of Florida lost $150,000. Jason Theodosakis, a best-selling author of the 1997 book "The Arthritis Cure" lost over $1 million, $350,000 in author's fees and another $600,000 of the money he got for endorsing Sundown Inc. Vitamins for Rexall. Says Theodosakis of Mezvinsky: "His stories weren't matching up. Probably the most apparent to me was when he said his mother died----for the second time. People should not feel sorry for him. He is a simple common criminal." (Des Moines Register, 8/03/2002, "Whirlpool of Lies Swallows Mezvinsky" by Mike Kilen). Mezvinsky completed 8,000 transactions in 5 years' time and earned the name "Fast Talkin' Eddie" from 1990 reporters, which later was replaced by "Crazy Eddie" when he pleaded that he was bipolar and a drug (Larium) his doctor prescribed for malaria had sent him over the edge into what was described at the time as "a one-man crime wave." He once wrote a check on Iowa State Bank and Trust Company in Iowa City for $255,000 in 1997, when the account held only $99.82. The New York Times reported in 2007 that Mezvinsky used his son's bank to help keep money transfers hidden. Mezvinsky had come a long way from his days working on ethics reform for Neal Smith and sitting on the House Judiciary Committee that voted to impeach Nixon. In his book on the subject of Watergate, he wrote (of Nixon), "a spectacle of a man brought to a wretched end." Even Ed can see the irony, saying, to Kilen, "Here I was, leading the brigade. And here I am, sitting here." Here, being Florida's Eglin Penitentiary in the Florida Panhandle, a 684-prisoner facility on Florida's Emerald Coast. Mezvinsky gambled much of his wealth on a failed campaign for Attorney General in Pennsylvania, which cost him over $1 million. Said the prisoner from behind bars, where he worked in food service for 12 cents an hour, "I basically bet the farm on that race, but I felt like I could do anything." He told Des Moines Register reporter Kilen, "Again, classic. Why was I doing these crazy things? Just thinking about it now, I don't know how I did it. You can do amazing things when you are in this state of mind. I couldn't contain it. The fire was out of control." Of his honest attempts to run businesses he founded, (which failed), he said, "I had these great ideas, but I didn't follow through with them." He added of his arrest, "I looked out my door, and there was a whole line-up. (10 agents were involved). I had no question they would find what was going on. It's all there in the boxes. Wouldn't I have shredded those documents if I had criminal intent? That's when I started to get professional medical help." (Des Moines Register, "Whirlpool of Lies Swallows Mezvinsky" by Mike Kilen, 8/03/2002). Prosecutor Robert Ziazmer said that Mezvinsky "was a poster child for structuring. He would go to 3 banks and get $9,900 the same day." Mezvinsky's most common fraud was to tell investors that he needed money to deposit in a trust account that would not be moved. He would tell the prospective investor that he needed it to show that he had the necessary funds to make an investment. He reportedly traded on the close relationship he and his wife enjoyed with the Clintons, of whom they were frequent guests at the White House, and even made points with potential marks by mentioning that Marc was dating Chelsea Clinton. Mezvinsky made 165 transactions of just under $10,000 between 1995 and 2000, sometimes using his son's then-bank, Goldman-Sachs, among others. If the amount of a fund transfer is over $10,000, banks must report it, but transfers of under $10,000----called "structuring"---go unreported. The prosecution characterized the scheme as "involving great detail and cunning" and U.S. District Judge Stewart Dalzell refused to allow a mental illness defense based on the lawsuit that Mezvinsky lodged (and later dropped) against the pharmaceutical company that manufactures the anti-malaria drug Larium and against his former friend, the doctor who prescribed it. The lawsuit that David Sonders launched against Mezvinsky, who promised him $247,000 in exchange for his $500,000 investment, (just as soon as Mezvinsky recovered $59 million in investments he had made in the Ivory Coast), was the lawsuit that signaled the beginning of the end for this former head of the Democratic party in Pennsylvania, although authorities were already looking into that bounced $255,000 Iowa City check. Mezvinsky's ex-wife, Marjorie Margolies-Mezvinsky said, "He was just always trying to figure out why he was such a gambler in life." She added, "Yes, the stories were strange and out of the intellectual box, but they were believable -- We're not talking deals that would come over the fax. They were very complex deals." The prisoner's brother, Norton Mezvinsky of New York City commented to the "Register", "For some time, I wondered how he was able to live the way he lived. He was obviously living high." Holly Werth, Mezvinsky's daughter, a resident of Sun Valley, Idaho, said, "At night, I could hear him pace the hallways. I knew something was wrong. It was all or nothing, always. The temper would fly. In the last several years, we would always walk on eggshells." She added that one of Mezvinsky's sisters had been in and out of mental institutions and that mental illness runs in the family. As Mezvinsky told the Des Moines Register, "The hole got so deep I couldn't do it by myself. I believed in (the investments). I believed they would hit. So I went to people to give me money. Let's be open. They expected great returns. They thought this was a bonanza I could give them." Today, the father of the groom told www.Mahalo.com, "I'm remorseful for what happened. It was a terrible time and I was punished for that. I respect that and accept responsibility for what happened, and now I'm trying to move on and am grateful I have the opportunity for that." He had earlier said, "I'm sorry for the victims, because they were misled. It's hard to believe that I did these things. People like myself do dingy things." (Most victims did not recover their money.) Marc Mezvinsky's mother, Marjorie, now retired, worked 24 years as a journalist and earned 5 Emmies. She withdrew from her 2000 comeback Senate race and had to declare bankruptcy in the wake of Ed's 2000 arrest. (She now lives in a rented house). Her stints on WCAU-TV from 1967 to 1971 and her NBC gig from 1971 to 1991 paid the bills. She was elected to one term in Congress (1993-1995) on her own, winning by just 1,373 votes against Jon D. Fox (50.27% to 49.73%) and then had to cast a decisive vote for Bill Clinton's tax plan, a vote which cost her re-election and which even she characterized by saying, "I think I'm falling on a political sword in this case." She is now retired, but obviously held in high esteem by the Clintons, as ex-President Clinton wrote in his memoir "My Life", "She earned an honored place in history with a vote she shouldn't have had to cast," which was Margolies-Mezvinsky's deciding vote for Clinton's tax bill, a bill unpopular with her constituents. As for the marriage of the Mezvinsky son and the Clinton daughter, Raymond McDevitt, a staff therapist at Center City's Council for Relationships in University City said, in the Philadelphia Inquirer (July 29, 2010, "Seeing the "For Worse' Hasn't Scared Chelsea From the Altar" by Aubrey Whelan), "Both she and her husband have gone through some of this negative notoriety. I think that in that way they probably get each other very well. I think there's an awareness and probably a determination not to go down that path." And, on a positive note, Mezvinsky's daughter, Holly Werth is quoted as saying, "But the rest of us have learned from this. All the siblings are all low risk-takers." (SOURCES: "The Blotter from Brian Ross", Dec. 1, 2009, "Will Father of the Groom Be Welcome Figure at Chelsea Clinton's Wedding?" by Joseph Rhee and Drew Sandholm; www.wikipedia entry for Edward Mezvinsky; CNN Money.Com, "The Scam That Will Not Die: Nigerian Advance-Fee Scams Have Fooled Americans for Decades. Thanks to the Internet, They're Now Staging a Disturbing Resurgence," July 1, 2002, by Peter Carbonari; Philadelphia Inquirer, July 29, 2010, "Seeing the 'For Worse' hasn't Scared Chelsea From the Altar," by Aubrey Whelan; www.PoliticsDaily, Dec., 2009, Emily's Post by Emily Miller, "Meet Marc Mezvinsky, Chelsea Clinton's Fiance;" Des Moines Register, "Whirlpool of Lies Swallows Mezvinsky," 8/03/2003 by Mike Kilen; www.Mahalodot.com; www.PolitiFi; www.Celebrifi.com; www.muckety.com) |
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