Businesses Owned By Taylor
According to Roll Call, a Capitol Hill newspaper, Taylor was worth more than $55 million as of the end of 2005, making him one of the wealthest members of Congress. Taylor founded and remains majority owner/chairman of the board of Blue Ridge Savings Bank in Asheville, NC. In 2006, he reported owning stock in Financial Guaranty Corporation, the holding company for the bank, that was worth more than $50 million. The holding company also owns a Russian bank (see below).
In September 2006, Citizens for Responsibility and Ethics in Washington named Taylor one of the "20 most corrupt members of Congress", saying his ethics issues arose "from his lucrative outside business interests". Shuler also accused Taylor of using his House seat to enrich himself, claiming that every earmark he placed in a transportation bill was for a project owned either by Taylor or one of his companies. Despite various accusations from political opponents, there were never any charges brought by the House Ethics committee against Taylor.
Read more about this topic: Charles H. Taylor
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