Loose Lips

Jeff Thompson’s Old Firm Sells Off Business

No one who used to work for embattled money man Jeffrey Thompson pleaded guilty to campaign finances crime last week, but that didn't mean it wasn't a tough one for the alleged shadow campaign financier's old colleagues. Bazilio Cobb Associates, Thompson's former accounting firm, just spun off part of its businessAccounting Today reports.

Five years ago, when it was still called Thompson, Cobb, Bazilio & Associates, the firm merged with New York-based accounting firm Watson Rice. Now, Bazilio Cobb Associates and the newly named BCA Watson Rice have split.

Bennie Hadnott, a Watson Rice managing partner, all but admitted to Accounting Today that the sale is related to the ongoing federal investigation of Thompson, saying, "Do you think that they would need to sell their practice if they didn’t have an issue down there?"

Photo courtesy Charles Parsons

  • Green Eyeshade

    If it is true that the merger took place five years ago, then the New York firm was in privity (shared insider information) with Jeffrey Thompson from 2008 forward, including in 2010 when he was laundering the 650K for the Mayor's illegal campaign. Which means the feds need to thoroughly inspect the books of the New York firm.

    This also means that Councilmember Catania needs to pester DC's AG to sue the NY firm to replevin money, assets, books & records that can be used to cover the damages suffered by DC's Medicaid programs as a result of Thompson's criminal conspiracy. The "merger" means that the DC firm was not a separate legal entity from the New York firm, they were one legal entity. Time to chase down the names in the New York firm and follow the money up there.

  • mizwillis

    This thing gets 'curiouser and curiouser.'
    Catania, Nathan, Machen
    ......or all of the above?

  • truth hurts

    They're segregating company assets/divisions hoping to avoid seizure of the entire business in the event Machen brings RICO charges -- as he's recently hinted he may do.

  • qwerty

    Machen is one guy in DC who actually earns his pay.

  • drez

    This whole thing stinks of RICO.

  • Jiggy

    waste of time!