Still Evil after All These Years: The Franklin Scandal and Pedophilia in High Places

I have known Nick Bryant since 1995. He was new to New York from Minnesota then, and looking to make a jump from reporting for a science news service to writing for a mass audience. I noticed that he was persistent and ethically motivated and I thought, “He might be a good reporter.” We got to be friends, and had many long discussions about the nature of evil, which was his preferred subject matter as he tried to make a move into general circulation magazines. When he wasn’t chasing doctors at AIDS conferences, he was chasing outlaw bikers and Satanists.
On one such foray in 2002, he stumbled on a scandal that I had never heard of. The scandal centered around the Franklin Community Federal Credit Union, which was created to serve a poor black neighborhood in Omaha, Nebraska. During the 70s and 80s, its manager, a man named Larry King (not the talk show host), ran the Franklin as a Ponzi scheme and looted over $40 million, which he spent on an opulent lifestyle and Republican fundraising. King sang the National Anthem at the Republican convention in 1984 and served on several committees of the National Black Republican Council. He had a townhouse in Washington, DC, where he threw parties with many prominent guests. In August 1988, he threw a $100,000 party at the Republican convention, and appeared in a video in which he and Jack Kemp urged blacks to vote for George H. W. Bush. In November 1988, his Ponzi scheme crashed and the Franklin was shut down by the National Credit Union Association and the FBI.
READ MORE:http://thiscantbehappening.net/node/1315