This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Perry Used Plane of Donor Facing Probe

Stocks in this article: LPHI

NEW YORK ( TheStreet) -- Texas Gov. Rick Perry has made presidential campaign trips on a jet owned by a contributor who is under investigation by the Securities and Exchange Commission and Texas regulators, according to published media reports.

Perry flew last weekend on a jet belonging to Brian D. Pardo, the CEO of life settlement company Life Partners Holdings (LPHI - Get Report), according to a report by The Wall Street Journal that cited a Perry campaign aide and flight records obtained through Flightwise.com.

The plane also carried the governor's relatives from Texas to Charleston, S.C. on Aug. 13, the day Perry officially launched his presidential campaign, the report added.

> > Bull or Bear? Vote in Our Poll

Pardo donated $50,000 to Perry's Texas campaign fund last year, the report said.

Under federal election laws, it's legal for candidates to fly on supporters' or corporations' airplanes as long as the candidates reimburse the planes' owners, the report noted.

Pardo and Life Partners are being investigated by the SEC about what the company knew and disclosed to its investors about the life expectancies of people whose insurance policies Life Partners had purchased.

Texas regulators sued Pardo and the company at the end of July in an effort to make them comply with subpoenas issued as part of an investigation, the Journal report noted.

Life Partners operates in the controversial life settlement business, buying up life insurance policies of individuals and then selling them to investors.

A representative for the Perry campaign declined to say how the candidate came to use Pardo's plane but said the campaign paid the owner in accordance with election laws, the report said.

Mr. Pardo confirmed that the governor used his plane twice and said he had been reimbursed, the report added.

This article was written by a staff member of TheStreet.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs