LABELLE, FLORIDA -- Florida's United States Representative for the 16th district took his oath of office Thursday. Tim Mahoney, born in 1956 in Illinois, and now a resident of Palm Beach Gardens and Venus, a rural community in southern Highlands county, succeeds Mark Foley in the 16th Congressional District.
Mahoney, describing himself as a fundamentalist Christian is a member of the Venus United Methodist Church and has a computer science degree and an M.B.A., and achieved wealth after a computer company he worked for was sold. Mahoney was an officer with a Florida disk drive company, Rodime Systems and that company was sold leaving him to begin Union Atlantic LLC with partner Lenney Sokolow, and then the purchase of vFinance, Inc. of Boca Raton. The company's main income is from securities brokerage and trading and has over a hundred employees.
The company stock went from $8 per share in 2000 down to 20 cents per share in late 2006, only turning a profit once in six years, and has been sued for fraud and breach of contract, while paying $80,000 in fines to securities regulators, according to a Wikipedia article.
A Democrat, Mahoney has criticized the Georgre Bush administration for general mismanagement and its policies in Iraq. Mahoney's Florida 16th congressional district takes in Hendry and Glades county and portions of Charlotte county, St. Lucie and Palm Beach county, creating a wide swath from the east coast to the west. Map of 16th District