(Bloomberg) Congressional investigators concluded Tuesday that there is “substantial reason to believe” that U.S. Representative Alan Grayson of Florida violated federal laws and House rules regarding the hedge fund he runs, his personal disclosures and the use of official resources for campaign work.
But Grayson, a leading contender for the Democratic nomination for the Senate seat being vacated by Republican Marco Rubio, may have caught a break, with the House Ethics Committee indicating it would proceed slowly on the newly unsealed findings by the Office of Congressional Ethics.
Grayson came under scrutiny by the Office of Congressional Ethics for his eponymous hedge fund in particular, although he has since changed its name. But while the House Ethics panel said in a statement that it would continue to review the matter, it didn’t create an investigative subcommittee — potentially a win for Grayson, whose campaign noted that no sanctions have been levied in the past without such a committee being created first. It also increases the likelihood that any actions wouldn’t come until after the primary or even after the November election.
