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Sudan link to Giuliani, Edwards
18/05/2007 12:21 - (SA)
Washington - Presidential candidates Rudy Giuliani and John Edwards, who have spoken out about genocide in Darfur, did not know their financial holdings included investments in companies that do business in Sudan, aides said.
An Edwards campaign spokesperson said on Thursday that the former Democratic senator would sell thousands of dollars of Sudan-related funds.
"He did not know about it and will divest," Eric Schultz said following inquires about Edwards's portfolio.
Giuliani, the Republican former mayor of New York, has at least one investment of between $500 000 and $1m in a fund that holds stock in a company that is active in Sudan.
"The mayor was unaware of this connection, but is taking it very seriously," spokesperson Maria Comella said.
She said Giuliani and his staff would review his portfolio and "ultimately take appropriate action".
Investments scrutinised
The Sudan-related investments illustrate the pitfalls for candidates with vast holdings that are scrutinised during a presidential campaign.
Edwards and his wife reported more than $29m in assets in his financial disclosures this week. Giuliani and his wife listed assets of similar size.
Earlier, two other presidential candidates, Democratic Senator Barack Obama of Illinois and Republican Senator Sam Brownback of Kansas, said they had divested their holdings of Sudan-related stock.
Obama placed the total value of his divestitures at $180 000. The sales of the investments were recorded in their financial disclosures.
According to Giuliani's financial disclosure, he invested between $500 000 and $1m in a Vanguard Wellington Fund. Data compiled by the Sudan Divestment Task Force shows that Vanguard Wellington has a small percentage of stock in Schlumberger Ltd, a French oil field services company that does business in Sudan.
Edwards sold stock he and his wife owned in Schlumberger for between $40 000 and $100 000. But his retirement pension and his children's trust invested between $30 000 and $100 000 in American Europacific Growth, which has stock in several companies that do business in Sudan.
He also invested $50 000 to $100 000 in Evergreen Equity Income Fund, another fund identified by the divestment task force as having stock in Sudan-related companies.
Both Edwards and Giuliani have called for the United States to do more to end the conflict that killed more than 200 000 people and displaced millions.
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