Keystone: Dave McCormick Invested In Chinese Fentanyl Before Wanting To Ban It During Campaign

“To Say It’s Alarming Is Almost An Understatement” 

PENNSYLVANIA - Connecticut hedge fund CEO and mega-millionaire David McCormick’s investments in the biggest fentanyl producer in China — the source of the vast majority of the fentanyl trafficked into the U.S. — is under continued scrutiny following a recent report from Keystone Newsroom.

Pennsylvania Democratic Party Executive Director Mitch Kates called out McCormick for putting profits over Pennsylvanians during an interview on Chester County’s WCHE this week.

Listen Below:

WCHE Radio: The Morning Show

- Barry Dee: Something that I did find very alarming and you can really illustrate this. In the press thing that came out, it says that - There’s reporting by Keystone Newsroom found that McCormick invested in China’s largest fentanyl producer and the fact is that he claims he wants to ban fentanyl. Can you elaborate on that?

- Mitch Kates: Yeah, no to say it’s alarming is almost an understatement. And just last night, guys, you know in the campaign world don’t sleep often. I was working pretty late into the night. I had the TV on in the background, and the guy who said we should all stop doing negative campaigning was actually on overdrive last night. And I saw one ad, I think it’s a new ad, which actually rolled out multiple versions of his tale of job creation and fighting fentanyl.

- Mitch Kates: And the inconvenient truth is that Dave McCormick, while he ran a Pennsylvania based company, he actually slashed hundreds of jobs and ended up shipping those jobs to India and China. And then more to the point, which is, frankly, why I’ve been calling him dangerous Dave is because he ran the largest hedge fund in the world, they invested over a million dollars in China’s largest factory that produces fentanyl. The irony is he’s running TV ads saying that he’s going to stop fentanyl from coming across the borders in Mexico, the factory that he made millions of dollars from his investment is the same factory that supplies the fentanyl down into Mexico. So while he was profiting off of his investments with his hedge fund, thousands of Pennsylvanians and frankly, tens of thousands of people across this country were dying while he was profiting. I think that’s shameful.