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No one who used to work for embattled money man Jeffrey Thompson pleaded guilty to campaign finances crime last week, but that didn’t mean it wasn’t a tough one for the alleged shadow campaign financier’s old colleagues. Bazilio Cobb Associates, Thompson’s former accounting firm, just spun off part of its business, Accounting Today reports.
Five years ago, when it was still called Thompson, Cobb, Bazilio & Associates, the firm merged with New York-based accounting firm Watson Rice. Now, Bazilio Cobb Associates and the newly named BCA Watson Rice have split.
Bennie Hadnott, a Watson Rice managing partner, all but admitted to Accounting Today that the sale is related to the ongoing federal investigation of Thompson, saying, “Do you think that they would need to sell their practice if they didn’t have an issue down there?”
Photo courtesy Charles Parsons