Charles H. Taylor
Encyclopedia
Charles Hart Taylor is an American
politician
; a Republican
, he represented North Carolina
's 11th congressional district
in the United States House of Representatives
. He began serving in 1991 and continued through January 3, 2007.
Taylor was born in Brevard, North Carolina
. He attended Wake Forest University
, where he received his BA
in 1963 and his law degree (Juris Doctor
) from Wake Forest University School of Law
in 1966. He operates a cattle farm in Brevard, several tree farms around Western North Carolina, and is also involved in banking. He served in the North Carolina General Assembly
as a Republican from Transylvania County
from 1967 to 1975 — serving in the State House from 1967 to 1973 and the State Senate from 1973 to 1975. He then returned to his business interests until entering Congress.
and lost by just over 1,500 votes. He sought a rematch against Clarke in 1990 and won by 2,700 votes. He was reelected with 54 percent of the vote in 1992, even as Bill Clinton
carried the district. He was reelected six more times from the 11th, which includes most of North Carolina's share of the Blue Ridge Mountains
.
According to public statements, Taylor is a great admirer of Abraham Lincoln
. Political pundits were amazed that the staunchly conservative Taylor was able to build a strong foothold in a district that had long been considered marginally Democratic, but he was helped by his membership on the powerful House Appropriations Committee
, as well as the 11th's tinge of social conservatism
. Additionally, Taylor's wealth enabled him to self-fund most of his campaigns.
In his first term, as a member of the Gang of Seven
, a group of first-term Republican Representatives, Taylor worked to expose the congressional corruption in the internal bank of the U.S. House (Rubbergate).
. He was a member of the Republican Study Committee
, a caucus of conservative Republican congressmen.
Taylor served on the advisory board of the National Wilderness Institute which worked to promote private property rights and reduce government regulations in environmental areas.
on September 11, 2001. Taylor's preference was for federal funding to be lowered and supplemented by private donations. After pressure from a variety of people, including President George W. Bush
, Taylor ended his opposition and allowed funding for the memorial; he had used his Appropriations subcommittee chairmanship to block the funding. At the time of his protest, private donors had only donated $7 million towards the cost, and Taylor feared that the government would be forced to come up with the other $53 million.
Taylor supported spending over $600 million for a road through the Great Smoky Mountains National Park
to settle a 1943 agreement with the federal government. Proponents of the road argue that if it were built, it would provide better access to ancestral cemeteries inside the park, as well as providing a tourist draw to the region. Critics call the project the "Road to Nowhere", and argue that if the road were built, it would cut through the largest roadless tract east of the Mississippi River
; and prefer, instead, a cash settlement with the federal government.
, furniture, and other plants when production has been moved abroad where labor costs are cheaper. However, he failed to register a vote during final approval of the agreement by the House, which passed 217-215. According to GOP aides, Taylor cast a no vote with a deactivated voting card. The glitch registered with the House Clerk's office, but Taylor had left the House floor and aides said attempts to locate him during the 62-minute vote were unsuccessful.
In 2005, Taylor secured $100,000 in federal money for the International Trade and Small Business Institute, which brings foreign students to the U.S. to study at seven colleges and universities in western North Carolina. The 2007 federal budget contains a $1 million earmark for the program. In August 2006, 20 students arrived in the U.S. to attend six colleges and universities in western North Carolina.
The Russia
-based coordinator of the study program is Marina Bolshakova. She and her husband are partners in the Russian bank owned by Taylor, and Taylor's Russian investment company. Taylor said Bolshakova earns no salary for her work, calling her a natural choice for the job because of her prior job as an English
teacher.
Taylor made 11 trips to Russia between 1997 and 2005 as part of his Congressional travel, paid for by the U.S. government.
that occurred the prior week and said "Just like any murder
er, they have to be dealt with and justice has to be brought." American troops, Taylor said, were doing a "job that should be done" in Iraq
.
When asked for a time line of when he thought American troops might pull out, Taylor estimated that a reduction in American forces should occur in 2006. But he said American troops could spend another two years in Iraq training the country's new army.
Taylor was one of a handful of Congressmen who have had children serve in Iraq. His son Bryan is a US Army Captain who served in Iraq from mid 2004 until late 2005.
, a native of Swain County
and a former quarterback for the University of Tennessee
and the Washington Redskins
.
Shuler repeatedly attacked Taylor for not standing up more often for the 11th's interests. For example, he blasted Taylor for missing the CAFTA vote, pointing out that according to the House roll call, he'd voted 11 times on the same day CAFTA came up for a vote. Taylor, for his part, claimed that Shuler would be an extra vote for Nancy Pelosi
.
On October 27, 2006, the Associated Press
reported that Taylor had raised $3.6 million for the campaign as of October 18, including $2.2 million of his own money, and had spent all but $136,000 of the funds raised, as of that date.
Shuler defeated Taylor, taking 54 percent of the vote to Taylor's 46 percent. Taylor lost nine of the district's 15 counties, including several areas that had supported him for years. He even lost his home county of Transylvania. Taylor conceded defeat at 10:35 pm on election night.
In December 2007, Taylor announced that he would not seek a rematch with Shuler in 2008.
, a Capitol Hill newspaper, Taylor was worth more than $55 million as of the end of 2005, making him one of the wealthest members of Congress. Taylor founded and remains majority owner/chairman of the board of Blue Ridge Savings Bank in Asheville, NC. In 2006, he reported owning stock in Financial Guaranty Corporation, the holding company for the bank, that was worth more than $50 million. The holding company also owns a Russian bank (see below).
In September 2006, Citizens for Responsibility and Ethics in Washington
named Taylor one of the "20 most corrupt members of Congress", saying his ethics issues arose "from his lucrative outside business interests". Shuler also accused Taylor of using his House seat to enrich himself, claiming that every earmark
he placed in a transportation bill was for a project owned either by Taylor or one of his companies. Despite various accusations from political opponents, there were never any charges brought by the House Ethics committee against Taylor.
ulent loans from the bank, were sentenced for conspiracy
to commit bank fraud
and conspiracy to commit money laundering
. Martin pleaded guilty in 2001. During the 2003 trial of attorney Thomas Jones, who handled the closing of the loans, Martin said that Taylor had first-hand knowledge of the loans. Cagle and Jones also said Taylor knew of the fraud.
Taylor has refused to comment on the case. Congressional staff routinely say the fraud is bank business and refer questions to Blue Ridge President Dwayne Wiseman. Following the sentencing, Taylor press secretary Deborah Potter said Taylor still had no comment, and reviewed a statement by Wiseman: "For a number of years there has been an effort on the part of certain political opponents of Congressman Charles Taylor to slander him and Blue Ridge Savings Bank by indicating that neither he nor the bank or any present officers of the bank had any prior knowledge," Wiseman said in the statement. "This went on for some nine years with the encouragement of the press. We would hope that the settlement of this case would put an end to such speculation." Taylor was never targeted by authorities as having any involvement in helping Martin defraud Blue Ridge Savings Bank, which Taylor owned.
Blue Ridge Savings Bank was closed by the North Carolina of Commissioner of Banks on October 14, 2011. The Federal Deposit Insurance Corporation
was then appointed receiver and negotiated an agreement for the Bank of North Carolina to assume all of the deposits of Blue Ridge.
colonel and Supreme Soviet
deputy, and Bolshakov's wife Marina. Taylor owns 80 percent of the bank as well as Columbus, a Russian investment company.
In December 2005, the Bank of Ivanovo opened a new four-story headquarters, its second office, in the city's downtown. Taylor said at the time that he didn't consider the bank to yet be particularly profitable. In mid-2006, Bolshakov said the bank's hard currency balance was more than $22 million and its loan portfolio was more than $18.6 million.
One of the 2005 participants in the Russian student exchange program told Associated Press that she had a summer work-study internship at the Bank of Ivanovo after she returned to Russia. Taylor's office said that was a mistake because Institute policy forbids participants to work in "any business venture with which Congressman Taylor is associated." The bank has since ended its participation in the work-study program, Taylor's office said.
's tax collector asked the U.S. House of Representatives to garnish his wages to collect more than $3,583 in back taxes resulting from a dispute over parcels owned by Transylvania Tree Farms, a Taylor business. The county said that Taylor had failed to file a management plan for his property, despite repeated requests from the county, and so it could not be assessed at a lower rate through a forest land tax deferment. Taylor's attorney disputed the authority of the county to require such a plan.
In May 2006, Champion Cattle and Tree Farm, located in Transylvania County
, was issued a notice of violation because rental property of the company had become a "public health nuisance."
Taylor owns 8000 acres (32.4 km²) on the North Carolina side of Sassafras Mountain
, the highest point in South Carolina
. In June 2010 it was announced he plans to sell the property to the Carolina Mountain Land Conservancy for $33 million. It has a market value of $63 million and the difference will be considered a charitable gift for tax purposes.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
; a Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
, he represented North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
's 11th congressional district
North Carolina's 11th congressional district
The 11th Congressional District encompasses most of Western North Carolina, anchored by Asheville. Starting in the 110th Congress, it is represented by Heath Shuler, a Democrat. Shuler defeated 8-term Republican representative Charles H. Taylor in the 2006 midterm elections.The 11th District is...
in the United States House of Representatives
United States House of Representatives
The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...
. He began serving in 1991 and continued through January 3, 2007.
Taylor was born in Brevard, North Carolina
Brevard, North Carolina
Brevard is a town in Transylvania County, North Carolina, United States. The 2005 population estimate by the United States Census Bureau was 6,643. It is the county seat of Transylvania County....
. He attended Wake Forest University
Wake Forest University
Wake Forest University is a private, coeducational university in the U.S. state of North Carolina, founded in 1834. The university received its name from its original location in Wake Forest, north of Raleigh, North Carolina, the state capital. The Reynolda Campus, the university's main campus, is...
, where he received his BA
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in 1963 and his law degree (Juris Doctor
Juris Doctor
Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...
) from Wake Forest University School of Law
Wake Forest University School of Law
The Wake Forest University School of Law is one of the professional graduate schools of Wake Forest University. Located in Winston-Salem, North Carolina, Wake Forest University School of Law is a private American Bar Association accredited law school and is a member of the Association of American...
in 1966. He operates a cattle farm in Brevard, several tree farms around Western North Carolina, and is also involved in banking. He served in the North Carolina General Assembly
North Carolina General Assembly
The North Carolina General Assembly is the state legislature of the U.S. state of North Carolina. The General Assembly drafts and legislates the state laws of North Carolina, also known as the General Statutes...
as a Republican from Transylvania County
Transylvania County, North Carolina
Transylvania County is a county located in the U.S. state of North Carolina. As of 2010, the population was 33,090. Its county seat is Brevard.- History :The county was formed in 1861 from parts of Henderson County and Jackson County...
from 1967 to 1975 — serving in the State House from 1967 to 1973 and the State Senate from 1973 to 1975. He then returned to his business interests until entering Congress.
Congressional career
In 1988, Taylor ran against Democratic incumbent Jamie ClarkeJames M. Clarke
James "Jamie" McClure Clarke was a North Carolina politician and farmer. He is a former Democratic member of the United States House of Representatives.Born in Manchester, Vermont, Clarke grew up in Asheville, North Carolina...
and lost by just over 1,500 votes. He sought a rematch against Clarke in 1990 and won by 2,700 votes. He was reelected with 54 percent of the vote in 1992, even as Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
carried the district. He was reelected six more times from the 11th, which includes most of North Carolina's share of the Blue Ridge Mountains
Blue Ridge Mountains
The Blue Ridge Mountains are a physiographic province of the larger Appalachian Mountains range. This province consists of northern and southern physiographic regions, which divide near the Roanoke River gap. The mountain range is located in the eastern United States, starting at its southern-most...
.
According to public statements, Taylor is a great admirer of Abraham Lincoln
Abraham Lincoln
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He successfully led his country through a great constitutional, military and moral crisis – the American Civil War – preserving the Union, while ending slavery, and...
. Political pundits were amazed that the staunchly conservative Taylor was able to build a strong foothold in a district that had long been considered marginally Democratic, but he was helped by his membership on the powerful House Appropriations Committee
United States House Committee on Appropriations
The Committee on Appropriations is a committee of the United States House of Representatives. It is in charge of setting the specific expenditures of money by the government of the United States...
, as well as the 11th's tinge of social conservatism
Social conservatism
Social Conservatism is primarily a political, and usually morally influenced, ideology that focuses on the preservation of what are seen as traditional values. Social conservatism is a form of authoritarianism often associated with the position that the federal government should have a greater role...
. Additionally, Taylor's wealth enabled him to self-fund most of his campaigns.
In his first term, as a member of the Gang of Seven
Gang of Seven
The Gang of Seven refers to a group of freshmen Republican U.S. Representatives, elected to serve in the 101st Congress in 1990. The group loudly condemned the House banking scandal and the Congressional Post Office scandal, forcing the congressional leadership to address the issues by ensuring...
, a group of first-term Republican Representatives, Taylor worked to expose the congressional corruption in the internal bank of the U.S. House (Rubbergate).
Positions and views
Taylor was one of the most conservative members of the House. He had a lifetime rating of 92 from the American Conservative UnionAmerican Conservative Union
The American Conservative Union is an American political organization advocating conservative policies, and is the oldest such conservative lobbying organization in the country.-Organization:...
. He was a member of the Republican Study Committee
Republican Study Committee
The Republican Study Committee [RSC] is a caucus of over 170 conservative members of the Republican Party in the United States House of Representatives...
, a caucus of conservative Republican congressmen.
Environment
Taylor was the Chairman of the Subcommittee on Interior, Environment, and Related Agencies, on the U.S. House Committee on Appropriations.Taylor served on the advisory board of the National Wilderness Institute which worked to promote private property rights and reduce government regulations in environmental areas.
Spending
In 2005 and 2006, Taylor made national headlines for delaying full funding by the federal government for a $60 million memorial to United Flight 93, which crashed in PennsylvaniaPennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
on September 11, 2001. Taylor's preference was for federal funding to be lowered and supplemented by private donations. After pressure from a variety of people, including President George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
, Taylor ended his opposition and allowed funding for the memorial; he had used his Appropriations subcommittee chairmanship to block the funding. At the time of his protest, private donors had only donated $7 million towards the cost, and Taylor feared that the government would be forced to come up with the other $53 million.
Taylor supported spending over $600 million for a road through the Great Smoky Mountains National Park
Great Smoky Mountains National Park
Great Smoky Mountains National Park is a United States National Park and UNESCO World Heritage Site that straddles the ridgeline of the Great Smoky Mountains, part of the Blue Ridge Mountains, which are a division of the larger Appalachian Mountain chain. The border between Tennessee and North...
to settle a 1943 agreement with the federal government. Proponents of the road argue that if it were built, it would provide better access to ancestral cemeteries inside the park, as well as providing a tourist draw to the region. Critics call the project the "Road to Nowhere", and argue that if the road were built, it would cut through the largest roadless tract east of the Mississippi River
Mississippi River
The Mississippi River is the largest river system in North America. Flowing entirely in the United States, this river rises in western Minnesota and meanders slowly southwards for to the Mississippi River Delta at the Gulf of Mexico. With its many tributaries, the Mississippi's watershed drains...
; and prefer, instead, a cash settlement with the federal government.
Free trade
Taylor had been outspoken in his opposition to the Central American Free Trade Agreement (CAFTA) and other trade agreements that he argues would hurt his district, which has suffered from the closing of textileTextile
A textile or cloth is a flexible woven material consisting of a network of natural or artificial fibres often referred to as thread or yarn. Yarn is produced by spinning raw fibres of wool, flax, cotton, or other material to produce long strands...
, furniture, and other plants when production has been moved abroad where labor costs are cheaper. However, he failed to register a vote during final approval of the agreement by the House, which passed 217-215. According to GOP aides, Taylor cast a no vote with a deactivated voting card. The glitch registered with the House Clerk's office, but Taylor had left the House floor and aides said attempts to locate him during the 62-minute vote were unsuccessful.
Russian student exchange program
Taylor started exchange programs for Russian students and internships for aspiring bankers and entrepreneurs in 1994, at colleges in his district.In 2005, Taylor secured $100,000 in federal money for the International Trade and Small Business Institute, which brings foreign students to the U.S. to study at seven colleges and universities in western North Carolina. The 2007 federal budget contains a $1 million earmark for the program. In August 2006, 20 students arrived in the U.S. to attend six colleges and universities in western North Carolina.
The Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
-based coordinator of the study program is Marina Bolshakova. She and her husband are partners in the Russian bank owned by Taylor, and Taylor's Russian investment company. Taylor said Bolshakova earns no salary for her work, calling her a natural choice for the job because of her prior job as an English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
teacher.
Taylor made 11 trips to Russia between 1997 and 2005 as part of his Congressional travel, paid for by the U.S. government.
Iraq
In July 2005, at a town hall meeting in his district, when asked about the Iraq War, Taylor mentioned the terrorist bombings in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
that occurred the prior week and said "Just like any murder
Murder
Murder is the unlawful killing, with malice aforethought, of another human being, and generally this state of mind distinguishes murder from other forms of unlawful homicide...
er, they have to be dealt with and justice has to be brought." American troops, Taylor said, were doing a "job that should be done" in Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
.
When asked for a time line of when he thought American troops might pull out, Taylor estimated that a reduction in American forces should occur in 2006. But he said American troops could spend another two years in Iraq training the country's new army.
Taylor was one of a handful of Congressmen who have had children serve in Iraq. His son Bryan is a US Army Captain who served in Iraq from mid 2004 until late 2005.
2006 re-election campaign
In 2006, Taylor's Democratic opponent was Heath ShulerHeath Shuler
Joseph Heath Shuler is a businessman, a former NFL quarterback, and the U.S. Representative for , serving since 2007. He is a member of the Democratic Party....
, a native of Swain County
Swain County, North Carolina
Swain County is a county located in the U.S. state of North Carolina. As of 2000, the population was 12,968. Its county seat is Bryson City.Swain County is home of the Nantahala River . The Nantahala is one of the most popular whitewater rafting rivers in the nation...
and a former quarterback for the University of Tennessee
University of Tennessee
The University of Tennessee is a public land-grant university headquartered at Knoxville, Tennessee, United States...
and the Washington Redskins
Washington Redskins
The Washington Redskins are a professional American football team and members of the East Division of the National Football Conference in the National Football League . The team plays at FedExField in Landover, Maryland, while its headquarters and training facility are at Redskin Park in Ashburn,...
.
Shuler repeatedly attacked Taylor for not standing up more often for the 11th's interests. For example, he blasted Taylor for missing the CAFTA vote, pointing out that according to the House roll call, he'd voted 11 times on the same day CAFTA came up for a vote. Taylor, for his part, claimed that Shuler would be an extra vote for Nancy Pelosi
Nancy Pelosi
Nancy Patricia D'Alesandro Pelosi is the Minority Leader of the United States House of Representatives and served as the 60th Speaker of the United States House of Representatives from 2007 to 2011...
.
On October 27, 2006, the Associated Press
Associated Press
The Associated Press is an American news agency. The AP is a cooperative owned by its contributing newspapers, radio and television stations in the United States, which both contribute stories to the AP and use material written by its staff journalists...
reported that Taylor had raised $3.6 million for the campaign as of October 18, including $2.2 million of his own money, and had spent all but $136,000 of the funds raised, as of that date.
Shuler defeated Taylor, taking 54 percent of the vote to Taylor's 46 percent. Taylor lost nine of the district's 15 counties, including several areas that had supported him for years. He even lost his home county of Transylvania. Taylor conceded defeat at 10:35 pm on election night.
In December 2007, Taylor announced that he would not seek a rematch with Shuler in 2008.
Businesses owned by Taylor
According to Roll CallRoll Call
Roll Call is a newspaper published in Washington, D.C., United States, from Monday to Thursday when the United States Congress is in session and on Mondays only during recess. Roll Call reports news of legislative and political maneuverings on Capitol Hill, as well as political coverage of...
, a Capitol Hill newspaper, Taylor was worth more than $55 million as of the end of 2005, making him one of the wealthest members of Congress. Taylor founded and remains majority owner/chairman of the board of Blue Ridge Savings Bank in Asheville, NC. In 2006, he reported owning stock in Financial Guaranty Corporation, the holding company for the bank, that was worth more than $50 million. The holding company also owns a Russian bank (see below).
In September 2006, Citizens for Responsibility and Ethics in Washington
Citizens for Responsibility and Ethics in Washington
Citizens for Responsibility and Ethics in Washington is a nonprofit 501 organization that describes itself as "dedicated to promoting ethics and accountability in government and public life by targeting government officials – regardless of party affiliation – who sacrifice the common good to...
named Taylor one of the "20 most corrupt members of Congress", saying his ethics issues arose "from his lucrative outside business interests". Shuler also accused Taylor of using his House seat to enrich himself, claiming that every earmark
Earmark (politics)
In United States politics, an earmark is a legislative provision that directs approved funds to be spent on specific projects, or that directs specific exemptions from taxes or mandated fees...
he placed in a transportation bill was for a project owned either by Taylor or one of his companies. Despite various accusations from political opponents, there were never any charges brought by the House Ethics committee against Taylor.
Blue Ridge Savings Bank
In January 2005, Hayes Martin, who had been bank president as well as Taylor's campaign treasurer, and Charles "Chig" Cagle, a former district Republican chairman who had taken out fraudFraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
ulent loans from the bank, were sentenced for conspiracy
Conspiracy (crime)
In the criminal law, a conspiracy is an agreement between two or more persons to break the law at some time in the future, and, in some cases, with at least one overt act in furtherance of that agreement...
to commit bank fraud
Bank fraud
Bank fraud is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently representing to be a bank or financial institution. In many instances, bank fraud is a criminal offense...
and conspiracy to commit money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
. Martin pleaded guilty in 2001. During the 2003 trial of attorney Thomas Jones, who handled the closing of the loans, Martin said that Taylor had first-hand knowledge of the loans. Cagle and Jones also said Taylor knew of the fraud.
Taylor has refused to comment on the case. Congressional staff routinely say the fraud is bank business and refer questions to Blue Ridge President Dwayne Wiseman. Following the sentencing, Taylor press secretary Deborah Potter said Taylor still had no comment, and reviewed a statement by Wiseman: "For a number of years there has been an effort on the part of certain political opponents of Congressman Charles Taylor to slander him and Blue Ridge Savings Bank by indicating that neither he nor the bank or any present officers of the bank had any prior knowledge," Wiseman said in the statement. "This went on for some nine years with the encouragement of the press. We would hope that the settlement of this case would put an end to such speculation." Taylor was never targeted by authorities as having any involvement in helping Martin defraud Blue Ridge Savings Bank, which Taylor owned.
Blue Ridge Savings Bank was closed by the North Carolina of Commissioner of Banks on October 14, 2011. The Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
was then appointed receiver and negotiated an agreement for the Bank of North Carolina to assume all of the deposits of Blue Ridge.
Russian investments
Starting in the mid-1990s, Charles Taylor began financing small businesses in and around Ivanovo, an industrial city of almost 500,000, about 150 miles (241.4 km) northeast of Moscow. In 2003, Taylor purchased the Commercial Bank of Ivanovo with a Russian partner, Boris Bolshakov, a former KGBKGB
The KGB was the commonly used acronym for the . It was the national security agency of the Soviet Union from 1954 until 1991, and was the premier internal security, intelligence, and secret police organization during that time.The State Security Agency of the Republic of Belarus currently uses the...
colonel and Supreme Soviet
Supreme Soviet
The Supreme Soviet of the Soviet Union was the Supreme Soviet in the Soviet Union and the only one with the power to pass constitutional amendments...
deputy, and Bolshakov's wife Marina. Taylor owns 80 percent of the bank as well as Columbus, a Russian investment company.
In December 2005, the Bank of Ivanovo opened a new four-story headquarters, its second office, in the city's downtown. Taylor said at the time that he didn't consider the bank to yet be particularly profitable. In mid-2006, Bolshakov said the bank's hard currency balance was more than $22 million and its loan portfolio was more than $18.6 million.
One of the 2005 participants in the Russian student exchange program told Associated Press that she had a summer work-study internship at the Bank of Ivanovo after she returned to Russia. Taylor's office said that was a mistake because Institute policy forbids participants to work in "any business venture with which Congressman Taylor is associated." The bank has since ended its participation in the work-study program, Taylor's office said.
Cattle and tree farms
In 2000, Jackson CountyJackson County, North Carolina
Jackson County is a county located in the southwest of the U.S. state of North Carolina. As of 2010, the population was 40,271. Since 1913 its county seat has been Sylva, replacing Webster.-History:...
's tax collector asked the U.S. House of Representatives to garnish his wages to collect more than $3,583 in back taxes resulting from a dispute over parcels owned by Transylvania Tree Farms, a Taylor business. The county said that Taylor had failed to file a management plan for his property, despite repeated requests from the county, and so it could not be assessed at a lower rate through a forest land tax deferment. Taylor's attorney disputed the authority of the county to require such a plan.
In May 2006, Champion Cattle and Tree Farm, located in Transylvania County
Transylvania County, North Carolina
Transylvania County is a county located in the U.S. state of North Carolina. As of 2010, the population was 33,090. Its county seat is Brevard.- History :The county was formed in 1861 from parts of Henderson County and Jackson County...
, was issued a notice of violation because rental property of the company had become a "public health nuisance."
Taylor owns 8000 acres (32.4 km²) on the North Carolina side of Sassafras Mountain
Sassafras Mountain
Sassafras Mountain is the highest point in the state of South Carolina, USA.-Height:Its summit elevation is 3564 feet above mean sea level. It is also part of the Appalachian Mountains.-Location:...
, the highest point in South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
. In June 2010 it was announced he plans to sell the property to the Carolina Mountain Land Conservancy for $33 million. It has a market value of $63 million and the difference will be considered a charitable gift for tax purposes.
Boards and other Affiliations
- Congressional Coalition on Adoption
- North Carolina Board of Transportation
- North Carolina Energy Policy Council
- Board of Visitors, United States Military Academy, West Point
- Vice Chair, Western North Carolina Environmental Council.
- Member and Past International Justice of Phi Alpha DeltaPhi Alpha DeltaΦAΔ , or P.A.D., is the largest co-ed professional law fraternity in the United States of America. Phi Alpha Delta has members who are university students, law school students, lawyers, judges, senators, and even presidents. It was founded in 1902 and today has over 300,000 initiated members...
Law Fraternity