Thursday, February 5, 2009

Highlights to date of LCCCA series

The owner of Growth Business Development, Daniel J. Logan of Medford, N.J., was paid more than $122,000 over a 12-month period for which he turned in no receipts or detailed records of what he did.

Additionally Logan was paid almost $38,000 that went to a paper corporation he set up after initially being hired as a consultant to do a marketing and sales review for the Authority. Records show that the bulk of that money went to a neighbor in Medford, N.J. He was pivotal in getting Logan the authority job through contacts he had with a Lancaster County dentist and consultant.

Logan was paid over $200,000 for a 14-month period in which he had no contract.

Over a four year period Logan receive almost a million dollars. Work product in the LCCCA files is scant. Despite the high earnings, Logan apparently had difficulty making mortgage payments on his home. Why?

Thomas Beckett of Fairmount Capital Advisors of Philadelphia was paid more than $283,000 for which there is no detailed record of what he did for the hours charged during a 20-month period. Beckett was also paid about $6,000 for unsubstantiated expenses.

Beckett eventually went to work for George K. Baum and Co., a Denver, Col. firm with offices in West Conshohocken. The Baum company was paid $130,000 from fees related to millions of dollars in bonds floated by the LCCCA. Beckett was the financial consultant to the authority and recommended the hiring of the Baum company for the bond work. Beckett collected another $25,000 from the authority for a three-month period while now working for Baum after the bonds had been floated.

The series continues bi-weekly.