Jeb Bush Deepened Role At Troubled Firm As Others Pulled Away
[su_right_ad]Jeb Bush continued on as part of a firm that marketed prefabricated housing that eventually went of business after widespread fraud.
Previously unreported court documents suggest that Bush was more involved with the company than has been publicly known — and that he deepened his role even as others associated with InnoVida grew concerned about its financial practices.
Documents show that the company listed Bush in internal records as a “key manager” who had been given options to buy 250,000 shares of stock and later stood to make more money looking for partners to build factories overseas.
Bush aides say he broke from InnoVida and voluntarily repaid consulting fees as soon as questions arose, and there is no evidence that he knew of the fraud that led to the criminal conviction of the company’s chief executive, Claudio Osorio, in 2013.
Nevertheless, Bush’s involvement with InnoVida, which he joined as a $15,000-a-month consultant in 2007 after completing two terms as governor of Florida, provides insight into his approach as a businessman and illustrates how his corporate ties could affect his presidential aspirations.
Bush’s private-sector approach reflects a contrast to the hands-on style that characterized his time as governor. Potential rivals in the 2016 presidential race have hinted that they would make an issue out of Bush’s work for two troubled banks, Lehman Bros. and Barclays.[su_csky_ad]