McDougal Leaves for Term in Prison
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From Times Staff and Wire Reports
James B. McDougal, President Clinton’s former business partner in the failed Whitewater real estate deal, left Arkansas for a federal prison in Lexington, Ky., to serve a three years for fraud and conspiracy. In the 1970s McDougal and his then-wife, Susan, along with Clinton and his wife, Hillary Rodham Clinton, were investors in the real estate venture, which was underwritten by Madison Guaranty Savings and Loan, which McDougal owned. Whitewater and McDougal’s firm failed, costing taxpayers an estimated $60 million.
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