Grayson loses millions in fraud scheme

Rep. Alan Grayson (D-Fla.) lost $18 million in an investment fraud scheme that cheated him and other investors out of approximately $35 million, businessinsider.com reports.

William Dean Chapman, the Virginia man at the center of the scam, was sentenced to 12 years in prison on Monday.

It is not the first time that Grayson has fallen victim to a fraud scheme. In 2009, he won a $34 million judgment against a company called Derivium Capital, which ran a version of a Ponzi scheme against him and other investors, businessinsider.com, also reported.

Grayson is among the Top 25 wealthiest members of Congress.

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