Alan Grayson fires back against ethics charges

Congressman Alan Grayson is firing back at his critics after a 1,000-page report was issued by the House Ethics Committee on the congressman's use of a hedge fund and other charges he is improperly using his office to campaign.

"That shows the ridiculousness, the absolute ridiculousness of these allegations. OK?"

Grayson is running for the U.S. Senate seat being vacated by Marco Rubio. His opponent in the Democratic primary, Congressman Patrick Murphy, reacted strongly to the news.

"It's deeply disturbing that any public servant would prioritize making money in an offshore hedge fund while there are millions of Americans and Floridians still struggling. He has continued to use the Congressional House office to not only make money, but to run for the US Senate."

The allegation is that Grayson had a hedge fund while in Congress called the "Grayson Fund" and that he profited off his influence as a member of Congress. Congressman Grayson strongly denies those accusations. The report says "there is substantial reason to believe that Representative Grayson improperly allowed the use of his name by four entities connected to Representative Grayson's hedge fund". The Congressman says he will keep that fund.

"The so called 'hedge fund' is simply a partnership that involves investments between me and my children. I don't even know why they call it a hedge fund. You'll have to clue me in on that."

Congressman Patrick Murphy is using the report to bolster his own Senate bid.

"The guilt is squarely on him.  You know, he was caught red handed here managing an off shore hedge fund."

The House Ethics Committee voted 6-0 to keep looking into the allegations that Grayson did not fill out his financial disclosure forms properly, and that he used his office for campaign business. Grayson says the evidence simply does not exist.

"This report says there might conceivably, maybe, possibly be evidence, and by the way this report was prepared by people who are literally in cahoots with Murphy."

The Committee did not form a subcommittee to determine how to punish Alan Grayson, something it has historically done when there is to be any type of rebuke or reprimand. Congressman Grayson feels he is vindicated.

"The fact is that they had all the evidence in front of them ginned up by Murphy and his colleagues and his allies. They had it all in front of them, and they did not form an investigative subcommittee. So it's over."

Alan Grayson tells Fox 35 there is no way he is getting out of the US Senate race. To see the full allegations against Congressman Grayson, the report and his response, click here.