Elliott Broidy
Elliott Broidy

Elliott B. Broidy (born July 18, 1957) is an American venture capitalist, Republican fundraiser, and philanthropist. From 2005 to 2008 he was finance chairman of the Republican National Committee(RNC). In 2017 he was named a deputy finance chairman of the RNC. He resigned from this role in April 2018 after the Wall Street Journal reported that Broidy had a sexual affair with a Playboy Playmate which resulted in a pregnancy that she terminated, and that Michael CohenDonald Trump's personal lawyer who is under investigation for bank fraud, wire fraud and campaign finance violations, arranged a payment of $1.6 million in hush money to the woman involved.

Controversies

Bribing of New York State Comptroller

In 2009, Broidy entered a guilty plea to a single felony count of attempting to provide excess gratuity to former New York State Comptroller Alan Hevesi. The charge was later reduced to a misdemeanor in exchange for cooperation that helped lead to the conviction of Hevesi and six other pension officials. Broidy had provided $1 million in illegal gifts to New York State pension authorities. The gifts included luxury trips to Israel, payouts, and an undisclosed investment in a film produced by the brother of the chief investment officer of the New York State Retirement Fund. In exchange for the gifts, the state pension fund had invested $250 million with Markstone Capital Partners. As part of the plea deal, Broidy paid $18 million in restitution of management fees paid by the pension fund to Markstone.

1MDB Scandal

In March 2018, The Wall Street Journal reported that Broidy had been in negotiations to earn tens of millions of dollars by lobbying the U.S. Justice Department to drop its investigation into a multibillion-dollar graft scandal involving a Malaysian state investment fund, 1MDB, according to emails reviewed by the Journal. One email showed a proposal that would have given Broidy and his wife $75 million if they got the Justice Department to drop its probe into 1MDB. Broidy also prepared talking points for Malaysian Prime Minister Najib Razak to tell Trump during his 2017 visit to Washington, DC. This included playing up Malaysia's relationship with the U.S. in fighting North Korea and arguing against pursuing legal action against 1MDB.

Hush money payment to Playboy model

On April 13, 2018, The Wall Street Journal reported that Broidy, who was married at the time, had a sexual relationship with the Playboy Playmate Shera Bechard, resulting in a pregnancy in late 2017. The model later electively terminated the pregnancy. Lawyer Michael Cohen, later negotiated a deal to pay $1.6 million for the woman's silence. The settlement was falsely characterized at the time as a personal injury settlement. Broidy resigned his post at the RNC the same day the article appeared.