Word: jacobsen
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Unwanted Bills. A fraction of the amount pledged by the producers -namely, $10,000-went to Jake Jacobsen, an Austin, Texas, attorney who was close to Connally. The milk producers instructed Jacobsen to turn the money over to Connally, who would then distribute it to deserving congressional candidates. In his testimony to the grand jury, Jacobsen said that he offered it to Connally, but his fellow Texan refused to take it. Much like the $100,000 campaign gift from Howard Hughes to Bebe Rebozo, the cash was reputedly placed by Jacobsen in a vault in a bank-an Austin bank...
...jury was not buying. In February, it indicted Jacobsen for perjury. The bills, investigators discovered, could not possibly have been placed in the vault in mid-1971. Their serial numbers indicated that they had been issued prior to that date, but they had not, in fact, been put into circulation until many months later. Someone had blundered...
...evidence, he received $5,000 in May 1971, after helping to get the milk subsidies increased, and another $5,000 in March 1972. It is not known what Connally did with the money, but in November 1973, when the milk-fund investigation spread, he returned the entire amount to Jacobsen, who replaced it in the vault. When Jacobsen was called before the grand jury, he agreed to let the FBI inspect...
Wise Advice. Many milk producers thought they detected the wisdom of Jacobsen's advice when the Nixon Administration in 1971 raised federal milk-price supports by 270, to $4.93 per 100 Ibs. The increase came about three months after the President was offered $2 million by the dairymen for his 1972 campaign. The rise added more than $300 million to the annual income of U.S. dairy farmers and at least as much to the prices paid by consumers. Nixon has denied that the decision to raise supports was in any way influenced by the milk producers' contributions...
...Attorney Jacobsen offered $10,000 in cooperative money to John B. Connally, then Secretary of the Treasury, for contributions to the campaigns of unnamed politicians. Connally turned down the money twice. Jacobsen later told the Watergate grand jury that he left the money untouched in a safe-deposit box in the Citizens National Bank of Austin until last Nov. 27. The grand jury offered no clue as to what might have happened to the $10,000 but said that Jacobsen had lied, and indicted him for perjury. Last week he pleaded not guilty in Federal District Court in Washington...