Arizona Republican Sen. John McCain in 2012 turned over nearly $9 million in unspent funds from his failed 2008 presidential campaign to a new foundation bearing his name, the McCain Institute for International Leadership.
The institute is intended to serve as a “legacy” for McCain and “is dedicated to advancing human rights, dignity, democracy and freedom.” It is a tax-exempt non-profit foundation with assets valued at $8.1 million and associated with Arizona State University.
[snip]“This is a very real conflict of interest,” Craig Holman, a government affairs lobbyist at Public Citizen, told TheDCNF. “This is the similar type of pattern we received with the Clinton Foundation in which foreign governments and foreign interests were throwing a lot of money in the hopes of trying to buy influence.”
[snip]McCain and Soros reportedly became friends after the senator was exposed as a member of the “Keating Five” during the savings and loan (S&L) industry scandal during former President George H.W. Bush’s administration. As the S&L bank chairman, Charles Keating paid $1.3 million to bribe five members of Congress to interfere with government regulators on behalf of the savings bank.
The experience so scarred McCain that he became a vigorous advocate of campaign finance reform and in the process reportedly became friends with Soros.