Rubin's firm, which helps local and state governments issue bonds, is no stranger to scandal and controversy. The IRS has investigated him on suspiciously high fees and concerns about his ties to banks who his firm connects with governments to issue bonds. The Justice Department raided his offices in 2006. No charges have been brought, and Rubin has denied any wrongdoing.
In early September – two weeks before Rubin attended Obama's Beverly Hills fundraiser – a group of Alabamans sued Rubin's firm and others over multi-billion dollar bond deals. The suit alleged CDR was part of a conspiracy which defrauded citizens and with bribery and corruption.
CDR has not responded to the suit. In a statement released Monday, Rubin said that his firm "has never practiced pay-for-play, on any playing field where we do business."
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