Roger Stone raked in tens of thousands of dollars from defending Matt Gaetz and endorsing up-and-coming GOP candidates

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Roger Stone has been reaping a significant stream of income, raking in tens of thousands in fees from political candidates he has endorsed or defended.Anna Moneymaker/Getty Images
  • A new report has revealed a new source of Roger Stone's income — fees from candidates he endorses.

  • New FEC filings revealed that Stone received funds from at least two political candidates.

  • Stone also defended Matt Gaetz in March 2021, which coincided with $20,000 worth of payments from Gaetz to Stone's company.

A new report from The Daily Beast has revealed that MAGA figure and Trump ally Roger Stone is reaping a steady source of income — raking in payments that coincide with him defending allies like Florida Rep. Matt Gaetz and his endorsements of up-and-coming conservative candidates.

The Beast's Roger Sollenberger found Stone's company Drake Ventures has been receiving an inflow of tens of thousands in cash payments that coincide with his endorsements of at least two political candidates.

The first candidate, Oklahoma GOP Senate primary candidate Jackson Lahmeyer, paid Stone's Drake Ventures $60,000 over three monthly installments on October 4, November 3, and December 8, 2021. The Lahmeyer campaign marked these investments as "strategy, marketing, data, and public relations" consultancy fees.

Stone endorsed Lahmeyer after receiving the second payment from the campaign.

Lahmeyer's website lists Stone's support under a section titled "Proudly Endorsed by Roger Stone" without disclosing the financial links between the two.

When reached for comment, Lahmeyer told Insider that Stone provided "strategic consulting services" to him, as he had for other Republican candidates. Lahmeyer added that Stone was "very, very, popular" among Oklahoma Republicans, and referred to the Florida consultant as a "martyr."

"It is only natural that he would endorse my candidacy since he is helping me win the upcoming Republican primary. Our relationship is ongoing and fully reported to the FEC as required by law," Lahmeyer said.

Financial records also show Stone endorsed Republican Martin Hyde's congressional campaign in November. According to Federal Election Commission records, the endorsement came a day after Hyde sent a $15,000 payment to Stone. Hyde subsequently sent another $10,000 payment to Stone on December 27, labeled "consultancy fees."

"Roger Stone was engaged as a consultant last November. The first payment of $15,000 we made was a pro rated sum for the balance of November and all of December," Hyde said in response to Insider's request for comment.

"I didn't pay for an endorsement nor was a conditional endorsement offered," Hyde added. "The idea that I'd pay for an endorsement or frankly that it'd be worth such a sum is laughable."

Stone also secured another income stream by defending fellow Floridian Matt Gaetz.

His company received a sizeable $20,000 payment from Gaetz's campaign committee Friends of Matt Gaetz last year. According to the FEC, Stone banked the amount, earmarked as fees for "strategic campaign consulting," in four installments on March 24, April 2, April 26, and May 24. The payment coincided with news breaking of the Justice Department's probe into allegations that Gaetz sex-trafficked a minor — and Stone's defense of Gaetz.

According to the South Florida Sun-Sentinel, Stone came out in vigorous support of Gaetz on March 31, within a week of receiving the first payment. At the time, Stone wrote on social media platform Parler that the federal investigation was a "smear" and an "extortion play" on Gaetz and an effort to "destroy" the Florida lawmaker.

In January, however, over seven months after the last payment from Gaetz, Stone made a post on Gab captioned "Bye Matt!" in response to news that Gaetz's ex-girlfriend had been granted immunity in the DOJ's sex trafficking probe.

A representative for Gaetz told Insider that the FEC filing "speaks for itself."

According to an Axios report, Stone isn't the only high-profile backer making money from endorsements. Axios noted, however, that the undisclosed cash passing from candidates and their backers, often marked as "communications consulting," might obscure the real financial relationship between parties, leaving voters none the wiser.

Stone did not immediately respond to Insider's request for comment.

Read the original article on Business Insider