Sarah Palin Indictment – Beleaguered Alaska Governor Sarah Palin resigned because of a pending federal indictment in an embezzlement scandal involving her receiving huge financial favors from Spenard Building Supplies.
The upcoming Sarah Palin indictment in the embezzlement scandal would have crippled Palin’s ability to govern effectively.
So sudden was her resignation that her own children didn’t know she was resigning until they heard the words spoken. Prior to her sudden announcement, Palin gave every indication that she intended to complete her tenure as governor, including during a meeting just 36 hours earlier with Senator Mark Begich.
The embezzlement scandal involves the massive, $12.5 million sports complex that Sarah Palin pushed through during her last term as Mayor in Wasilla.
Federal investigators believe the price of the sports complex was inflated to provide free building materials and labor for the Palin home being constructed nearby.
The sports complex’s contractors and architect have strong links and ties to Palin. Spenard Building Supplies was one – they are the largest building supply company in Alaska – and they also supplied labor & materials for the Palin’s home being built at the same time on nearby Lake Lucille.
Spenard Building Supplies was also the supplier and contractor for ex-Senator Ted Stevens cabin. This one building supply company was in bed with Palin, Stevens, the Wasilla sports complex, and is also a major financial contributor to Palin.
The sports complex was being constructed at the very same time as the Palin’s home and at one point Spenard filed a contractor’s lien for labor and materials on the home. Both structures, it is said, feature the “same windows, same wood, same products.”
Todd Palin told reporters during the presidential election that he built the two-story, 3,500 square-foot, four-bedroom, four-bath, two-story wood house by himself, with the help of contractors he described as “buddies.”
Federal investigators have been looking into this since last October and now indictments on charges of public corruption and embezzlement are imminent.
It appears that the construction of Palin’s home may have been some sort of quid pro quo arrangement for the massive influx of money from the Wasilla Sports Complex project into the building supply company.
Sarah Palin was then running for Lieutenant Governor, a position that could further reward those contributing to her campaign, particularly those that were involved with the Wasilla sports complex and the mysteriously inexpensive construction of Sarah Palin’s palatial cabin on pristine Lake Lucille.
Expect the whole embezzlement situation to get ugly fast as Palin’s people scramble to do damage control before the indictments are served.
And that’s the latest news on the embezzlement charges and the forthcoming federal Sarah Palin indictment.