Steve Stockman’s financial affairs are just as bizarre as his politics. Stockman has pulled this stuff before. He was chased out of office in ’96 after only one miserable term, but like herpes, he just won’t go away.He became the poster child for the unintended consequences of the sudden ’94 GOP wave and now, thanks to the wisdom of voters in my old East Texas home, he’s actually back in Congress.
Here’s a first effort to untangle the reeking mess of his financial dealings, from Lise Olsen at the Houston Chronicle:
That 2002 bankruptcy was raised as an issue when Stockman again ran for Congress in 2012. Stockman blamed his financial hardship on expenses incurred caring for his father, described in campaign literature as a World War II veteran who suffered from Alzheimer’s disease and died in 2004.
“My father raised me with the morals and convictions I have today and I’d gladly go bankrupt again to take care of my Dad,” Stockman said, according to campaign literature.
Presidential Trust is only one of at least 17 different business names and corporate identities Stockman has established over the years in Texas, Virginia, Nevada, New Mexico and the British Virgin Islands. At least 10 remain active, according to public records.
Most are based at the Webster post office box or at a UPS store mailbox in Friendswood, which was also Stockman’s official 2012 campaign address, public records show.
Stockman names only Presidential Trust Marketing as providing any recent income, according to his 2013 disclosures.
Some of Stockman’s companies had ambitious plans that never materialized, according to news stories, press releases and Internet touts.
Within a year after his bankruptcy, Stockman had established at least three new businesses.
One of his 2003 businesses, based at an address in the British Virgin Islands, was called Chasseur Wilshire Ltd. At one time, that startup company had a small office at 11999 Katy Freeway in Houston.
So maybe he’s an ambitious entrepreneur, or maybe he’s that other thing that involves extensive use of post office boxes and shell companies.Here’s a look at what he was trying pull off last time, from an old Houston Press article in ’95.