Grayson, who often makes the list of Congress's 20 wealthiest members, has been a victim of fraud before. In 2009, he won a $34 million judgment after suing Derivium Capital in South Carolina, according to the Associated Press. That scheme also involved a loan and hedging strategy similar to ACM's.
Before he was elected to Congress in 2009, Grayson was a successful trial lawyer who won a number of big judgments, and represented a whistleblower who exposed fraud in government contracts during the Iraq war. He attained national prominence during the debate over the Affordable Care Act, when he said that the Republicans' only health care plan was to tell people to "die quickly."