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Guess What This Clinton Operative Allegedly Did to Investors

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Steve Bachar of Silver Bullet Water Treatment LLC, with the coveted Best Venture award for his company’s electrochemical water treatment system that eliminates microorganisms and scale formation without adding any harmful chemicals. Nov. 13, 2012. NREL Credit: Dennis Schroeder

You know Democrats want to take your money and use it to fund their priorities, but one Democrat may have done that on a more personal level. Longtime Clinton operative, Steve Bachar has been charged with felony theft and securities fraud for allegedly mishandling millions of dollars of investor money. Washington Free Beacon reports:

Authorities in Denver have ordered the arrest of Steve Bachar, a longtime Clinton operative and “socially responsible” investor who has been charged with felony theft and securities fraud. The former co-chair of the Clinton Global Initiative is also under investigation for unrelated allegations that he mishandled millions of dollars allocated for personal protective equipment at the height of the COVID-19 pandemic.

Bachar is accused of stealing as much as $1 million and lying to an investor “in connection with the offer, sale or purchase of a security,” according to the criminal complaint filed by the Denver district attorney’s office. The crimes are alleged to have occurred between October 2017 and August 2018. The former Clinton operative told the Denver Post the criminal charges were “outrageous, unfounded, and false,” and he looks forward to letting “the facts come to light.”

Bachar, who served as White House advance lead and in the Treasury Department under former president Bill Clinton before joining the Clinton Global Initiative, also served on the national finance committee for Hillary Clinton’s failed presidential campaign in 2016 and as an adviser to former governor John Hickenlooper (D., Colo.). His private sector career as a corporate attorney and cofounder of Empowerment Capital Management was focused on “socially responsible investing.”

This is not the first time the socially responsible investor has been accused of serious wrongdoing. In 2020, at the height of the COVID-19 pandemic, Bachar allegedly pocketed nearly $2 million from health care companies that believed they were purchasing life-saving personal protective equipment such as masks and gowns.

According to a lawsuit filed by a Denver-based health care company, Bachar agreed to sell them 4,200 cases of N95 masks for $2.4 million in April 2020 but never delivered the masks and did not return their initial payment of $604,000. Over the summer, Bachar was ordered to pay nearly $4.5 million to the companies he allegedly defrauded but has yet to comply with the civil judgments against him.

Action Line: Whether or not Bachar is guilty, this is a lesson to investors to question anyone who is offering to “save the world,” with your money. Most of the time it’s about their EGO, and ultimately you invest, and they win.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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