Obama Bundler Ensnared in Iran Banking Scandal


Deloitte & Touche LLP executive and Obama bundler Michael Zeldin has come under fire recently for his alleged involvement in Standard Chartered PLC’s hiding of $250 billion in transactions involving Iranian interests. The Wall Street Journal reports:

Deloitte was a consultant to Standard Chartered, and the allegations against the bank cite an email by a Deloitte partner—unidentified, but since named by a person familiar with New York's investigation as Mr. Zeldin—that says he drafted a "watered-down" report to regulators. The bank regulators allege that the report removed material that could have shown improper practices by the bank. …

Mr. Zeldin has raised between $100,000 and $200,000 for Obama's 2012 campaign, the list shows. He also has made sizable personal contributions to Mr. Obama's 2008 and 2012 campaigns.

While Zeldin has yet to be charged with any wrongdoing, should the allegations against Zeldin prove to be true, Obama campaign spokesman Ben LaBolt said the contributions "would be returned."