Rep. Alan Grayson (D-Fla.) lost $18 million in an investment fraud scheme, according to court papers cited Monday by the Associated Press.
About 120 investors also lost a total of more than $35 million, the report says.
William Dean Chapman of Virginia ran the scheme and was sentenced Friday to 12 years in prison.
Court documents only showed Grayson’s initials A.G., but there were a few instances in which his name was spelled out. The congressman confirmed to the AP on Monday that he was the person mentioned.
In 2009, Grayson also fell victim to a fraud scheme in which a company called Derivium Capital committed a similar crime to Chapman’s. The congressman won $34 million after filing a lawsuit based on federal racketeering laws, the AP report notes.
He seems to be an easy mark.