'Madoff of Campaign Finance' Pleads Guilty to $7 Million Fraud

Rojer / Flickr
Adam Martin 767 Views Mar 30, 2012

She may not have risen to Bernie Madoff's level, but with Kinde Durkee's guilty plea Friday she's grabbed the title of California's biggest campaign finance fraudster. The so-called "Madoff of campaign finance" admitted to embezzling about $7 million from more than 50 campaign clients, including Sen. Dianne Feinstein, over a decade-long scam in which she transferred money around the various accounts she controlled in order to cover the fact she was looting them for her own gain. She faces 14 years in federal prison.

As we noted on Wednesday, Durkee used the money to buyTrader Joe's groceries and cover payments on her house, which The Daily Beast's Christine Pelisek described as "weather-beaten and neglected" Spanish-style home in Long Beach whose "lawn was a mix of dirt and grass patches." Far from living high on the hog, Durkee "drove to work in an old pickup and met clients wearing muumuus and flip-flops," using the money she embezzled to pay for basic personal expenses and business costs such as her employees' 401(k) accounts. Let this be a lesson: If you're going to indulge in large-scale embezzlement, at least spend the money on something you can brag about once you're behind bars. There's not a lot of cachet in the receipts for groceries, tools, and veterinary care Durkee has to show for her crime.

Want to add to this story? Let us know in comments or send an email to the author at amartin at theatlantic dot com. You can share ideas for stories on the Open Wire.

Related Articles   More by Adam Martin

'Madoff of Campaign Finance' Has Surprisingly Clean FEC Record

Feinstein Blames Her Bank for Her Accountant's Fraud

'Madoff of Campaign Finance' Used the Money to Buy Groceries

 

Shep Smith Apologizes After Fox News Airs a Suicide

France Plans to Tax Millionaires at 75%

Elsewhere on the Web

User Comments

Please type your comment and click Post. If you’re not already logged in you will be prompted to log in or register

  • The Atlantic Wire on Twitter
  • The Atlantic Wire RSS Feed
  • The Atlantic Wire iPhone App