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Posted at 11:20 AM ET, 07/17/2013

Swift Boat leaders on the outs


John Kerry (right) on a Swift Boat during the Vietnam War. (AP)
Seems like the old Swift Boat team is taking on a little water these days. Bill Franke, who once owned the now-defunct St. Louis Globe Democrat was a founder of the highly successful — and widely condemned — Swift Boat Veterans for Truth.

The organization, which has since disbanded, was seen as a key player in undermining the 2004 John Kerry presidential campaign.

Franke, a millionaire businessman, has in recent years faced a number of lawsuits over a failure to repay some loans. The St. Louis Business Journal reported last week that he lost a lawsuit in 2012 involving “the planned construction of a $90 million brewery outside Ho Chi Minh City” (formerly Saigon), in communist Vietnam.

Now it seems Franke has been hit with a nearly $3.29 million lawsuit over an unpaid loan that was brought in Dallas by billionaire Texas oilman T. Boone Pickens, who chairs a hedge fund called BP Capital Management, the journal also reported.

Pickens, we recall, also was a major funder of Swift Boat Veterans for Truth.

Well, time passes, things change.

By  |  11:20 AM ET, 07/17/2013

 
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