Donor in Richardson probe also gave to Obama

updated 6:42 p.m. ET Jan. 6, 2009

WASHINGTON - A prominent businessman caught up in a grand jury probe whose political donations ended any role for New Mexico Gov. Bill Richardson in the Obama administration also was a generous contributor in support of the president-elect.

David Rubin gave $26,200 to the Democratic Party on Sept. 19 and $2,300 to Barack Obama's campaign on Sept. 30, according to records filed with the Federal Election Commission. Last February, Rubin gave another $1,000 to Obama's campaign.

Rubin donated $100,000 in 2003-2004 to political committees of Richardson. The contributions came both before and after Rubin's company won a state contract in New Mexico to help finance $1.4 billion for highway and transportation projects, a contract that brought $1.5 million in business for the company, CDR Financial Products.

On Sunday, Richardson withdrew from consideration as commerce secretary amid the grand jury investigation. The federal criminal investigation of CDR's work for the state of New Mexico had been the subject of reports in the news media since August.

In a statement, the company says the grand jury investigation concerns whether Rubin's contributions might have been made in order to obtain favored status for the company, CDR, in seeking work as a financial adviser to the state.

Rubin has given over $200,000 in federal election campaigns since 1995, almost all of it to Democrats, according to the Center for Responsive Politics, a non-profit group that tracks political donations.

"CDR has never practiced pay-for-play, on any playing field where we do business," the company's statement said.

Obama's transition office did not immediately respond to requests for comment.

On Sept. 17, two days before the donation to the DNC, Rubin was on a list of participants in an $11 million Hollywood fundraiser on behalf of Obama, which also included numerous celebrities. Leonardo DiCaprio and Jeffrey Katzenberg were among the hundreds of luminaries, according to Entertainment Weekly.

Beverly Hills-based CDR Financial Products was hired to be part of a team of banking, investment and financial advisers selected by the New Mexico Finance Authority that assembled a complex bond financing deal for a highway and transportation construction program. The Finance Authority is a quasi-public agency that issues bonds and provides other financing to state and local governments.

The contributions to Richardson by CDR and Rubin went to a political committee that helped pay for expenses of Richardson staff and supporters to attend the 2004 Democratic National Convention and another committee that Richardson formed to help register Hispanics and American Indians to vote.

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