WASHINGTON - Florida Rep. Alan Grayson is bracing for the release Tuesday of a House Ethics Committee report into a Cayman Islands-based hedge funds he started, a development that could shape an already heated Democratic primary for U.S. Senate.
The committee in February moved to extend the probe and said it would announce a course of action by today.
The Tampa Bay Times first reported last year that Grayson ran a hedge fund based in the offshore tax haven of the Cayman Islands. Grayson said all his investors were "friends and family,” later describing it as only family.
But conflict of interest questions remain given Grayson’s position as a lawmaker. Background on the case here.
Grayson, a hard-charging liberal from Orlando, is running in the Democratic primary against fellow Rep. Patrick Murphy of Jupiter, who has drawn the support of the party establishment.
Murphy’s campaign did not wait for the ethics announcement, issuing a news release with “five questions for unethical hedge fund manager Grayson.”