Franklin Sands Lost 80 Percent To Madoff


And you thought the economy hit you hard.

Are you as bad off as state Rep. Franklin Sands?

The Florida House Democratic leader’s  net worth dropped 80 percent.

Sands is worth $1.5 million, which includes his Weston house, because he lost an estimated $4.2 million in the Bernard Madoff scam.

And pity state Sen. Jeremy Ring.  His net worth dropped 17 percent in 2008  to $18.3 million.

Ring doesn’t have to worry.  He still is the fourth-richest member of Florida’s Legislature. 

A former Yahoo! executive who lives in Parkland, Ring remains one of two Broward members of the Legislature in the top 10 richest senators and House members.

The other Broward member on the list is state Sen. Eleanor Sobel, the eighth-richest lawmaker in Tallahassee with a net worth of $6.47 million.

Broward’s two senators are the only Democrats on the list.  The remaining eight are Republicans.

Broward voters are being introduced for the first time this year to the state’s second-richest lawmaker. State Rep. Carl Domino, the Jupiter Republican, is running for the state senate seat in northeast Broward and has been campaigning along the beach.

Domino reports a net worth of $23.7 million.

All this information comes from the 2008 financial disclosure forms compiled by Florida Trend magazine.  The Florida Trend story is  here.

4 Responses to “Franklin Sands Lost 80 Percent To Madoff”

  1. How Come? says:

    Ironic that three of the worse senators and legislators are the richest. Sands, Ring and Sobel do nothing in Tallahassee. They are a waste of space.

  2. 80% Wow says:

    That’s a damn shame. But it sure was a lot of eggs in one basket…

  3. Democrat says:

    What has Sands done while in the House except lose 80 percent of his money?

  4. It's OK says:

    Most Floridians feel like they’ve lost 80% of their money too, except they never were multi-millionaires and never even heard of Bruce Madoff until he got nailed.